Application of Improved Grey Model in Long-term Load Forecasting of Power Engineering

AbstractGrey model is usually been used for long-term load forecasting in power engineering, but it has significant limitations. If the moving average method and Markov model are connected with grey model, the accuracy of this improved grey model used for long-term load forecasting in power engineering can be effectively increased. In this paper, ordinary grey model and improved grey model are all chosen and used for long-term power load forecasting in power engineering, and the power load data of Qingdao in the past decade is selected for the analysis. The result of the analysis shows that the accuracy of improved grey model is significant higher than ordinary model, so the improved grey model can be used for long-term load forecasting in power engineering