Analysis and prediction of electricity consumption using smart meter data

Abstract

This paper is considering application of smart meter data to predict electricity consumption of household consumers. The availability and amount of data is suitable for in-depth statistical analysis of electricity consumption profiles and the study of consumer's behavior. Prediction of electricity consumption is very important for electricity traders to balance their electricity purchase and sales portfolio, as well as to prepare optimal price products (offers) for their clients. Electricity consumption data of 500 consumers divided into 6 consumers groups was analyzed. The consumption data was derived from smart meters. As the next step, modern methods of electricity consumption forecasts would be applied to predict household electricity consumption.