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Getting IRP Right
Forecasting, by F. P. Sioshansi in Risk and Flexibility in Electricity, Risk Books, London UK, 2003.
6. On a broad level, forecasting can be done using a bottom-up or top-down approach. The former, typically done when the utility has detailed historical sectoral data, is more labor-intensive and can produce a highly accurate pattern of future load growth. The latter is often used when detailed historical sectoral data is not available or is of poor quality.
7. A discussion of the capabilities of various software tools commonly used in such a process goes beyond the scope of the present article. There are a number of firms offering products and tools suitable for IRP studies, including Global Energy Decisions.