This demo predicts power generation, load demand and electricity prices for Spain in 2018 using four years' worth of historical weather, generation, price and load data. We forecast five targets on a 24-hour-ahead basis:
Residual load is calculated as the backup gap between demand and renewable generation. Four forecasting models were evaluated: DeepAR, Temporal Fusion Transformers (TFTs), PatchTST and a Stacking Ensemble. The Stacking Ensemble produced the lowest error across all five targets, and its results are shown below. The Variables page shows which weather measurements most influence each target, and the Algorithms page provides an overview of the models used in the research.