The factors on which the load requirements of an area depends are:
(i) The nature of load
(ii) The population of an area.
(iii) Number of equipment installed in that area, etc.
Regression analysis of load forecasting is the study of behavior of process in the past and its mathematical modeling so that, the future behavior can be extrapolated from it.
A time varying event, such as power system load, can be broken down in the following four major components:
(a)Basic trend.
(b)Seasonal variation (monthly/yearly variation of load).
(c)Cyclic variation, this includes influences of period greater than the above two.
(d)Random variation; this occurs on account of day to day variation and is usually dependent on the time of week.
