Forecasting and Scenario Planning
Forecasting and Scenario Planning Tokyo Electric Power Company Holdings, in 2007, held its first daily “Electricity Load Forecasting”. The purpose was to identify “new methods” for forecasting electricity load within the service area of TEPCO Power Grid, Incorporated ("TEPCO PG") ( TEPCO's, 2017) . The new electricity forecasting method aims to use data science to improve forecasting accuracy and gain new knowledge of electricity usage in Tokyo ( TEPCO's, 2017) . Participants were tasked to forecast not less than ten days of electricity usage for September of 2017 (TEPCO's, 2017). Tokyo Electric Power Company allowed participants to use its innovation site, “TEPCO CUUSOO”, to provide their power forecasting methods. The reason the company invited participants to use electric consumption data and its website/API to develop a new electricity forecasting method was to determine an efficient way to supply electricity to its customers ( TEPCO's, 2017) . Its...
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