ARMA versus AR in Short Term Load Forecast

Short-term load forecasting plays an important role in
planning and operation of power system. The accuracy of this
forecasted value is necessary for economically efficient operation
and also for effective control. This paper describes a comparison
of autoregressive moving average (ARMA) and autoregressive
(AR) Burg’s and modified covariance (MCOV) methods in
solving one week ahead of short term load forecast. The methods
are tested based from historical load data of New South Wales,
Australia. The accuracy of discussed methods are obtained and
reported.