Computer Engineering Commons^™

Energy Cost Forecasting For Event Venues, Katarina Grolinger, Andrea Zagar, Miriam Am Capretz, Luke Seewald

Electrical and Computer Engineering Publications

Electricity price, consumption, and demand forecasting has been a topic of research interest for a long time. The proliferation of smart meters has created new opportunities in energy prediction. This paper investigates energy cost forecasting in the context of entertainment event-organizing venues, which poses significant difficulty due to fluctuations in energy demand and wholesale electricity prices. The objective is to predict the overall cost of energy consumed during an entertainment event. Predictions are carried out separately for each event category and feature selection is used to select the most effective combination of event attributes for each category. Three machine learning …