Day-Ahead Electricity Demand Forecasting Competition: Post-COVID Paradigm

The COVID-19 related shutdowns have made significant impacts on the electric grid operation worldwide. The global electrical demand plummeted around the planet in 2020 continuing into 2021. Moreover, demand shape has been profoundly altered as a result of industry shutdowns, business closures, and people working from home. In view of such massive electric demand changes, energy forecasting systems struggle to provide an accurate demand prediction, exposing operators to technical and financial risks, and further reinforcing the adverse economic impacts of the pandemic. In this context, the “IEEE DataPort Day-Ahead Electricity Demand Forecasting Competition: Post-COVID Paradigm" was organized to support the development and dissemination state-of-the-art load forecasting techniques that can mitigate the adverse impact of pandemic-related demand uncertainties. This paper presents the findings of this competition from the technical and organizational perspectives. The competition structure and participation statistics are provided, and the winning methods are summarized. Furthermore, the competition dataset and problem formulation is discussed in detail. Finally, the dataset is published along with this paper for reproducibility and further research. Author

Smoothed Bernstein Online Aggregation for Short-Term Load Forecasting in IEEE DataPort Competition on Day-Ahead Electricity Demand Forecasting: Post-COVID Paradigm

We present a winning method of the IEEE DataPort Competition on Day-Ahead Electricity Demand Forecasting: Post-COVID Paradigm. The day-ahead load forecasting approach is based on a novel online forecast combination of multiple point prediction models. It contains four steps: i) data cleaning and preprocessing, ii) a new holiday adjustment procedure, iii) training of individual forecasting models, iv) forecast combination by smoothed Bernstein Online Aggregation (BOA). The approach is flexible and can quickly adjust to new energy system situations as they occurred during and after COVID-19 shutdowns. The ensemble of individual prediction models ranges from simple time series models to sophisticated models like generalized additive models (GAMs) and high-dimensional linear models estimated by lasso. They incorporate autoregressive, calendar, and weather effects efficiently. All steps contain novel concepts that contribute to the excellent forecasting performance of the proposed method. It is especially true for the holiday adjustment procedure and the fully adaptive smoothed BOA approach. Author

Visitor arrivals forecasts amid COVID-19: A perspective from the Asia and Pacific team.

It is important to provide scientific assessments concerning the future of tourism under the uncertainty surrounding COVID-19. To this purpose, this paper presents a two-stage three-scenario forecast framework for inbound-tourism demand across 20 countries. The main findings are as follows: in the first-stage ex-post forecasts, the stacking models are more accurate and robust, especially when combining five single models. The second-stage ex-ante forecasts are based on three recovery scenarios: a mild case assuming a V-shaped recovery, a medium one with a V/U-shaped, and a severe one with an L-shaped. The forecast results show a wide range of recovery (10%-70%) in 2021 compared to 2019. This two-stage three-scenario framework contributes to the improvement in the accuracy and robustness of tourism demand forecasting.