|[August 15, 2014]
IEEE Power & Energy Society Launches the Global Energy Forecasting Competition 2014
PISCATAWAY, N.J. --(Business Wire)--
IEEE (News - Alert), the world's largest professional organization dedicated to
advancing technology for humanity, today announced the start of the
Global Energy Forecasting Competition 2014 (GEFCom2014)-sponsored by the
IEEE Power & Energy Society (PES) and organized by the IEEE Working
Group on Energy Forecasting.
"The Global Energy Forecasting Competition invites data scientists from
around the globe to tackle the forecasting challenges that the power and
energy industry faces today," said Dr. Tao Hong, general chair of
GEFCom2014, founding chair of the IEEE Working Group on Energy
Forecasting and EPIC assistant professor at University of North Carolina
at Charlotte. "We have developed a cutting-edge forecasting competition
platform on CrowdANALYTIX.com.
It's now officially open to entries from interested teams. We have also
created a LinkedIn
group to connect the contestants and facilitate discussions during
GEFCom2014 will end on Dec. 15, 2014. In addition, winning teams and
institutions of the competition will be invited to present their
methodologies and insights at the 2015 IEEE PES General Meeting in
Since its inception in 2012, the competition has set the mission to help
improve the forecasting practices of the utility industry; bring
together state-of-the-art techniques for energy forecasting; bridge the
gap between academic research and industry practice; promote analytics
in power and energy education; and prepare the industry to overcome the
forecasting challenges posed by the smart grid world.
GEFCom2014 isthe first forecasting competition in the power and energy
industry that asks for probabilistic forecasts. For each step throughout
the forecasting horizon, the contestants are required to submit 99
forecasted quantiles instead of a single point estimate.
"In today's competitive and dynamic environments, more and more
decision-making processes in the power and energy industry rely on
probabilistic forecasts to properly manage the risk introduced by active
demand, intermittent energy resources and severe weather conditions,"
said Hong. "Findings from this competition will greatly benefit several
emerging areas, such as renewable integration and demand response."
The four tracks in GEFCom2014 include electric load forecasting, wind
power forecasting, solar power forecasting and electricity price
forecasting. Up to three teams from each track will be recognized as
winners. GEFCom2014 will also recognize the non-profit institutions that
have multiple well-performing teams.
For more information about GEFCom2014, please visit http://www.gefcom.org.
To learn more about IEEE PES, visit us on Facebook (News - Alert) at http://www.facebook.com/ieeepes,
follow us on Twitter (News - Alert) at http://www.twitter.com/ieee_pes,
connect with us on LinkedIn (News - Alert) at http://www.linkedin.com/groups/IEEE-Power-Energy-Society-3792736.
About IEEE Power & Energy Society
The IEEE Power & Energy Society (PES) is the leading provider of
scientific and engineering information on electric power & energy for
the betterment of society and a trusted resource dedicated to the
technical, informational, networking and professional development needs
of its members. With over 32,000 members around the globe representing
every facet of the electric power and energy industry, PES is at the
forefront of the rapidly changing technological advancements that impact
everyone's future. PES celebrated its 125th year of service in 2009.
Additional information on IEEE PES can be found at: http://www.ieee-pes.org.
IEEE, a large, global technical professional organization, is dedicated
to advancing technology for the benefit of humanity. Through its highly
cited publications, conferences, technology standards, and professional
and educational activities, IEEE is the trusted voice on a wide variety
of areas ranging from aerospace systems, computers and
telecommunications to biomedical engineering, electric power and
consumer electronics. Learn more at http://www.ieee.org.
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