energies

Review
Investigating Intelligent Forecasting and Optimization in
Electrical Power Systems: A Comprehensive Review of
Techniques and Applications
Seyed Mohammad Sharifhosseini 1 , Taher Niknam 1, *, Mohammad Hossein Taabodi 1 , Habib Asadi Aghajari 1 ,
Ehsan Sheybani 2, * , Giti Javidi 2 and Motahareh Pourbehzadi 3

1 Department of Electrical Engineering, Shiraz University of Technology, Shiraz 7155713876, Iran;

[email protected] (S.M.S.); [email protected] (M.H.T.);
[email protected] (H.A.A.)
2 School of Information Systems and Management, Muma College of Business, University of South Florida,
Tampa, FL 33620, USA; [email protected]
3 Department of Information Systems and Supply Chain Management, Bryan School of Business and
Economics, University of North Carolina Greensboro, Greensboro, NC 27412, USA; [email protected]
* Correspondence: [email protected] (T.N.); [email protected] (E.S.)

Abstract: Electrical power systems are the lifeblood of modern civilization, providing the essential
energy infrastructure that powers our homes, industries, and technologies. As our world increasingly
relies on electricity, and modern power systems incorporate renewable energy sources, the challenges
have become more complex, necessitating advanced forecasting and optimization to ensure effective
operation and sustainability. This review paper provides a comprehensive overview of electrical
power systems and delves into the crucial roles that forecasting and optimization play in ensuring fu-
ture sustainability. The paper examines various forecasting methodologies from traditional statistical
approaches to advanced machine learning techniques, and it explores the challenges and importance
of renewable energy forecasting. Additionally, the paper offers an in-depth look at various optimiza-
tion problems in power systems including economic dispatch, unit commitment, optimal power
Citation: Sharifhosseini, S.M.;
Niknam, T.; Taabodi, M.H.; Aghajari, flow, and network reconfiguration. Classical optimization methods and newer approaches such as
H.A.; Sheybani, E.; Javidi, G.; meta-heuristic algorithms and artificial intelligence-based techniques are discussed. Furthermore, the
Pourbehzadi, M. Investigating review paper examines the integration of forecasting and optimization, demonstrating how accurate
Intelligent Forecasting and forecasts can enhance the effectiveness of optimization algorithms. This review serves as a reference
Optimization in Electrical Power for electrical engineers developing sophisticated forecasting and optimization techniques, leading to
Systems: A Comprehensive Review of changing consumer behaviors, addressing environmental concerns, and ensuring a reliable, efficient,
Techniques and Applications. Energies and sustainable energy future.
2024, 17, 5385. https://doi.org/
10.3390/en17215385
Keywords: forecasting; machine learning; meta-heuristic algorithms; optimization; power systems;
Academic Editor: Ahmed Abu-Siada renewable energy sources

Received: 10 October 2024

Revised: 23 October 2024
Accepted: 26 October 2024
1. Introduction
Published: 29 October 2024
The rapid evolution of power systems, driven by the integration of renewable energy
sources (RESs) and the increasing complexity of grid operations, necessitates develop-
ing and implementing advanced forecasting and optimization techniques to ensure grid
Copyright: © 2024 by the authors. stability, efficiency, and sustainability. As we move towards a more sustainable and re-
Licensee MDPI, Basel, Switzerland. silient energy future, the role of intelligent forecasting and optimization in electrical power
This article is an open access article
systems will grow in importance. Therefore, intelligent forecasting and optimization tech-
distributed under the terms and
niques have emerged as essential tools for effectively managing and operating electrical
conditions of the Creative Commons
power systems. These advanced computational methods, rooted in artificial intelligence
Attribution (CC BY) license (https://
(AI)—with machine learning (ML) as a key subset—and data science, enable navigation
creativecommons.org/licenses/by/
of the complexity of modern power systems with improved accuracy and efficiency [1,2].
4.0/).

Energies 2024, 17, 5385. https://doi.org/10.3390/en17215385 https://www.mdpi.com/journal/energies

Energies 2024, 17, 5385 2 of 35

AI encompasses a broad range of computational approaches that aim to mimic human

intelligence, while ML is a crucial subset focused on algorithms that can learn and improve
from data without explicit programming.
Intelligent forecasting in power systems encompasses a wide array of predictive
techniques aimed at forecasting various system parameters and states [3]. The forecasting
concept is crucial for maintaining system stability [4], optimizing resource allocation [5],
and improving overall efficiency [6]. Load forecasting, for instance, has long been a
critical component of power system planning and operation. Traditional methods relied
heavily on historical data and simple statistical models. However, the advent of machine
learning (ML) [7] and AI has revolutionized this field. Advanced algorithms such as
Artificial Neural Networks (ANNs) [8], Support Vector Machines (SVMs) [9], and, more
recently, deep learning (DL) models [10] can capture complex non-linear relationships
in data, leading to more accurate predictions of electricity demand across different time
horizons—from short-term (hours to days ahead) [11,12] to long-term (years ahead) [13]
forecasts. Similarly, renewable energy forecasting has become increasingly vital with the
growing penetration of wind [14,15] and solar power [16,17]. These forecasting models
often combine Numerical Weather Prediction (NWP) data with ML techniques to predict the
power output of RESs. For instance, ensemble methods that aggregate multiple forecasting
models have shown promising results in capturing the uncertainty inherent in renewable
generation [18]. Moreover, price forecasting in electricity markets has gained significance
with the deregulation of power sectors in many countries. Accurate price predictions are
essential for (1) market participants to optimize their bidding strategies and (2) for system
operators to ensure market efficiency [19,20].
On the other hand, the optimization applications in electrical power systems are di-
verse and challenging. Unit commitment [21–23] and economic dispatch [24–26] problems,
which involve determining the optimal scheduling and output power of generating units,
have been traditionally solved using mathematical programming techniques. However,
as power systems become more complex with the integration of renewables and the con-
sideration of multiple objectives (e.g., cost minimization, emission pollution reduction,
and reliability maximization) [27], more advanced optimization algorithms are required.
Meta-heuristic algorithms such as Genetic Algorithms (GAs) [28], Particle Swarm Optimiza-
tion (PSO) [29], and Ant Colony Optimization (ACO) [30], etc., have shown remarkable
effectiveness in solving these complex, non-linear, and often non-convex optimization
problems. These nature-inspired algorithms can efficiently explore vast solution spaces to
find near-optimal solutions, even in highly constrained environments. Furthermore, rein-
forcement learning (RL), a branch of ML, is gaining traction in power system optimization.
RL algorithms, which learn optimal strategies through interaction with the environment,
are particularly well-suited in power systems [31]. Applications range from optimal energy
management in microgrids (MGs) to adaptive control of power electronic devices [32].
The incorporation of forecasting and optimization techniques is particularly advan-
tageous in the context of power systems. For instance, stochastic optimization methods
that incorporate forecasting uncertainties can lead to more robust decision-making [33].
Model predictive control (MPC) frameworks, which use forecasts to optimize system oper-
ation over a rolling time horizon, are increasingly being applied to various power system
problems, from energy storage management to demand response programs [34]. The
implementation of these intelligent techniques is facilitating the development of advanced
energy management systems (EMSs). Modern EMSs leverage real-time data, forecasts,
and optimization algorithms to make proactive decisions, enhancing system efficiency and
reliability [35]. Intelligent EMSs can optimize utilizing local generation [36], energy storage
systems [37], and flexible loads [38] in MG operations based on forecasts of renewable
generation and electricity prices, ensuring cost-effective and reliable operation. Moreover,
demand response programs, which encourage consumers to adjust their electricity usage
in response to grid conditions, are benefiting from these advanced techniques [39]. Also,
ML algorithms can predict consumer behavior and optimize incentive structures [40],
Energies 2024, 17, 5385 3 of 35

while optimization algorithms can determine the best strategies for load shifting and peak
reduction [41].

2. Literature Survey
It is essential to first acknowledge the body of literature that has contributed signifi-
cantly to the domains of forecasting and optimization in electrical power systems. Several
surveys have been published over the years focusing on specific aspects of these topics.
For instance, some reviews have focused solely on optimization algorithms used in power
systems, including classical techniques like linear programming, as well as modern meta-
heuristic approaches such as PSO, GA, and ACO. Other surveys have concentrated on
forecasting techniques, exploring the evolution from traditional statistical models like
ARIMA (Auto-Regressive Integrated Moving Average) to advanced ML-based models like
ANN and SVMs. While these reviews offer valuable insights into specific areas, they often
lack a holistic approach that addresses the growing complexity and interconnectedness of
modern power systems, especially with the integration of RESs. One notable gap in the
existing literature is the lack of integration between intelligent forecasting and optimization.
Existing reviews tend to focus either on forecasting methodologies or on optimization
techniques, treating them as separate entities. This approach may have been sufficient
in the past, but as power systems become more complex, it is no longer enough to treat
forecasting and optimization in isolation. With the increasing penetration of RESs like wind
and solar power, there is an urgent need for methodologies that integrate both accurate
forecasting and efficient optimization to ensure grid stability, operational efficiency, and
cost-effectiveness. For these reasons, this review paper aims to fill that gap by providing
a comprehensive survey that not only covers the latest advancements in forecasting and
optimization but also demonstrates how these two critical areas are intertwined. For ex-
ample, renewable energy forecasting, which has seen significant progress with the use of
ML and DL models, directly impacts optimization processes like economic dispatch and
unit commitment. Accurate forecasting of wind and solar power output can enhance the
performance of optimization algorithms, ensuring that decisions made regarding power
generation and distribution are based on reliable data. This integration is essential for
improving the efficiency and sustainability of modern power systems, yet it is a topic that
has not been adequately covered in existing review papers.
The necessity for this updated and comprehensive review stems from several factors.
First, the rapid advancements in AI and ML have dramatically transformed both forecasting
and optimization in recent years. Techniques such as DL, reinforcement learning (RL),
and hybrid models are now being applied to solve highly complex problems in power
systems. These methods are capable of handling non-linear relationships, processing large
volumes of data, and adapting to the dynamic nature of modern grids, particularly with
the integration of renewable energy. Previous reviews often focused on earlier statistical
methods or classical optimization techniques, which, while still valuable, are not fully
equipped to handle the complexities of today’s power systems. Therefore, a new review
that includes recent AI-driven approaches is necessary to provide researchers and engineers
with the most up-to-date knowledge on these advanced techniques.
Moreover, several key characteristics set this review apart from previous works. First,
the scope of this paper is broader than most existing reviews, as it covers both traditional
and advanced methods in both forecasting and optimization. While earlier papers might
focus on specific techniques such as time series forecasting and metaheuristic optimization,
this review encompasses a wide range of methodologies, from traditional methods like
econometric models and trend analysis to cutting-edge AI-based techniques like DL and
RL. This comprehensive approach ensures that readers gain a thorough understanding of
the full spectrum of techniques available for managing power systems. Second, this review
goes beyond theoretical discussions by offering insights into real-world applications. Many
existing reviews tend to be highly theoretical, discussing methods in abstract terms without
providing concrete examples of how these methods are being used in practice. In contrast,
Energies 2024, 17, 5385 4 of 35

this paper includes case studies and practical applications of intelligent forecasting and op-
timization techniques in areas such as energy storage management, demand response, and
electricity price forecasting. By doing so, it provides valuable insights for both academics
and practitioners who are working to apply these techniques in real-world settings.
In conclusion, this review paper addresses a critical gap in the literature by providing
a comprehensive, up-to-date overview of both forecasting and optimization techniques in
electrical power systems, with a particular focus on their integration. While existing reviews
may have provided valuable insights into specific aspects of these topics, they often treat
forecasting and optimization as separate entities and fail to address the challenges posed
by modern power systems, particularly with the rise of renewable energy. By combining
these two areas and exploring the latest advancements in AI and ML, this paper provides
a unique and necessary contribution to the field, offering both theoretical insights and
practical applications that are essential for the future of electrical power systems.

3. Intelligent Forecasting Techniques

The practice of intelligent forecasting within electrical power systems employs sophis-
ticated computational methodologies, incorporating AI and ML, to anticipate electricity
consumption and production. This forecasting is crucial for preserving grid stability and
security in intricate power networks. The approach forecasts variables that affect electricity
supply and demand, thereby facilitating utility companies in making well-informed deci-
sions regarding mixed-energy optimization, management of energy storage, and assurance
of system security. In competitive markets, accurate forecasting has financial rewards
through the provision of clear price signals. Extensive datasets are analyzed using AI
techniques, particularly ML algorithms, in this approach. These advanced computational
methods can identify complex patterns that would not normally be perceptible with conven-
tional methods. ML, as a subset of AI, excels at learning from data to improve forecasting
accuracy over time. This approach yields superior accuracy in predictions. Intelligent fore-
casting is applicable to both large-scale power systems and MGs by optimizing the resource
utilization and energy storage management. The importance of this domain grows with the
increasing integration of RESs and expansion of MGs. Traditional statistical methods and
advanced AI algorithms are some of the methodologies under this discipline. As the power
systems continuously evolve, ongoing research on intelligent forecasting is very much
necessary to enhance system efficiency and reliability. Since intelligent forecasting plays a
vital role in ensuring the efficient and reliable operation of both large and small electrical
power systems, this paper covers all the different methodologies employed in predictive
analytics, from traditional statistical models up to advanced AI and ML algorithms.

3.1. Traditional Methods

The concept of intelligent forecasting in electrical power systems has a rich historical
background, being found in many developed methodologies for predicting electricity
consumption and maintaining stability and reliability in power grids. This development
has grown from simple trend analysis to sophisticated ML methods, each further refining
accuracy and efficiency of forecasting. In the following subsections, the traditional methods
of intelligent forecasting are explained.

3.1.1. Trend Analysis

Trend analysis, one of the pioneering methods in intelligent forecasting, involves a
precise examination of historical data to uncover discernible patterns and trends. These
identified trends are then extrapolated to forecast future electricity demand. By leveraging
past consumption data, forecasters can pinpoint seasonal fluctuations in demand, trace
growth trends, and identify other outstanding features to predict future demand with high
accuracy. The simplicity of trend analysis provides a foundational understanding of the
variations in electricity demand over time, making it an essential tool for initial assessments.
Additionally, trend analysis can be further enhanced by decomposing time series data into
Energies 2024, 17, 5385 5 of 35

seasonal, trend, and residual components, offering a clearer picture of demand fluctuations.
However, while effective for short-term forecasting, the trend analysis may fail to capture
sudden changes or anomalies in demand, highlighting the need for more sophisticated
methods for long-term predictions [42,43].

3.1.2. Econometric Models

As the need for more accurate forecasts intensified, econometric models emerged
as a vital tool. These models employ statistical techniques to forecast electricity demand
based on a plethora of economic indicators, including but not limited to GDP, population
growth, and industrial activity. By considering the intricate relationships between electricity
demand and various economic variables, econometric models provide more accurate
forecasts. For instance, surges in industrial activity or population growth are typically
correlated with increased electricity demand, insights that can be effectively captured and
analyzed through these models. The choice of econometric model (e.g., linear, nonlinear)
depends on the complexity of the relationships between the variables and the available
data. Moreover, the accuracy of forecasts heavily relies on the quality and granularity of the
economic data, underscoring the importance of robust data collection frameworks [44,45].

3.1.3. End-Use Approach

The end-use approach represents another pivotal method in intelligent forecasting,
focusing on the precise analysis of consumption patterns across different end-user sectors,
including residential, commercial, and industrial. By gaining a profound understand-
ing of how various sectors utilize electricity, forecasters can make more accurate predic-
tions regarding overall demand. For example, residential electricity consumption often
peaks during evening hours when individuals return home from work, whereas industrial
consumption may exhibit higher levels during the daytime. This sector-specific insight
facilitated by the end-use approach is crucial for capturing accurate demand patterns.
Furthermore, analyzing end-use patterns can also inform strategies for improving energy
efficiency in each sector. Incorporating behavioral studies can enhance forecasts by ac-
counting for how policy changes or awareness campaigns might influence consumption
patterns [46,47].

3.1.4. Time Series Analysis

Time series analysis is another widely employed method in intelligent forecasting,
involving the utilization of historical data to identify seasonal patterns, trends, and other
temporal dependencies that can inform predictions about future electricity demand. Tech-
niques within time series analysis, such as Auto Regressive Integrated Moving Average
(ARIMA) models, Exponential Smoothing (ES), and Seasonal Decomposition (SD), are
particularly adept at capturing complex temporal dynamics in electricity demand data.
These models are especially valuable for short-term forecasting, where understanding
the immediate past’s influence on the near future is crucial for operational efficiency and
resource allocation. For instance, ARIMA models can effectively predict daily peak demand
hours based on historical patterns, enabling grid operators to make informed decisions
about supply management [48,49].
The traditional forecasting methods applied to power systems, though useful, have
several limitations. Trend analysis often has problems in handling non-linear trends and
sudden changes in consumption patterns. Econometric models can be overly sensitive
to economic variable fluctuations and may not capture complex interdependencies in the
power sector. The end-use approach, while detailed, requires extensive data collection,
which is often time-consuming and costly to carry out accurately. Time series analysis
may fail to account for external factors, and its effectiveness might be lower when being
used for a long-term forecast. These methods also generally lack the ability to handle
big data and adapt to rapid changes in power consumption patterns caused by factors
like renewable energy integration, electric vehicle adoption, and smart grid technologies.
Things) IoT devices and smart meters, which provide vast amounts of granular data.
Therefore, in order to solve the problem of intelligent forecasting, either researchers move
for more
Energies 2024, 17,advanced
5385 methods or combine them with traditional methods. Further, 6this of 35
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particularly in dealing with the high dimensionality and non-linearity characteristic of
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Figure 1. Traditional methods of forecasting.

Figure 1. Traditional methods of forecasting.
3.2. Advanced Methods
State-of-the-art intelligent forecasting techniques have become very important in
power systems due to their ability to handle complex, non-linear relationships and large
data volumes. ML-based methods, such as those using ANN and SVM, can effectively
uncover hidden patterns and have the flexibility that is in demand by changing conditions
of power consumption [50]. DL frameworks, with their characteristic multiple layers, are
able to detect complex temporal and spatial correlations in load data [51]. Hybrid models
Energies 2024, 17, 5385 7 of 35

integrate various methodologies to utilize their specific advantages, frequently enhancing

the overall precision of forecasts. Ensemble techniques combine predictions from several
models, thereby minimizing errors and augmenting robustness. RL modifies forecasting
approaches in response to ongoing feedback, rendering it appropriate for dynamic power
systems [52]. Probabilistic techniques facilitate the quantification of uncertainty, which
is essential for risk evaluation and decision-making within unstable energy markets [53].
These newer techniques are especially relevant to current power systems, where growing
renewable integration, demand response programs, and smart grid technologies yield some
complex forecasting problems that traditional methods cannot handle very well.

3.2.1. Artificial Intelligence

Undoubtedly, methods of ML and DL introduced a revolution in intelligent forecasting
within electrical power systems. Enormous volumes of data are used for training models
to identify complex patterns and enable the models to predict correctly. Neural networks,
inspired by the human brain, are particularly effective for time series forecasting. Variants
like Long Short-Term Memory (LSTM) networks and Convolutional Neural Networks
(CNN) are widely used. LSTM networks are adept at capturing long-term dependencies in
data, making them suitable for predicting electricity demand over extended periods. CNNs,
on the other hand, excel at identifying spatial patterns in data. SVMs are another example
of supervised learning models that handle non-linear relationships in data effectively.
Moreover, DL models have demonstrated superior performance in handling large datasets
and non-linear relationships, often outperforming traditional statistical methods. For
instance, in solar and wind power forecasting, DL models have achieved notably lower
Mean Absolute Percentage Errors (MAPE) compared to conventional techniques. Recent
innovations in DL architectures include the following: (1) Transformer models, which
have shown remarkable results in capturing both short-term and long-term patterns in
energy consumption and generation data. (2) Graph Neural Networks (GNNs), which are
increasingly being used to model the complex topology of power grids, improving forecasts
that depend on network structure. (3) Attention mechanisms, which have enhanced the
interpretability and performance of deep learning models in energy forecasting tasks.
(4) Transfer learning techniques, allowing for models trained on data-rich regions to be
adapted for use in areas with limited historical data. These models can be trained to predict
electricity demand based on various input features, such as historical consumption data,
weather conditions, and economic indicators.

3.2.2. Hybrid Models

These models incorporate some forecasting methods to take advantage of the merits
of each approach. For instance, the hybrid model may combine time series analysis with
ML for the purpose of precise analysis of temporal patterns and complex relationships in
the data set. Thus, overcoming the limits set by each methodology allows for these types of
models to make better and more reliable forecasts. In fact, various studies have identified
that hybrid models, regarding performance, outperform traditional models, positioning
them as the most sought-after when high-level forecasting is wanted.

3.2.3. Ensemble Methods

Ensemble methods involve combining the predictions of multiple models to improve
accuracy. Common techniques for ensembling include bagging, boosting, and stacking,
and are commonly used in ensemble methods. Bagging (Bootstrap Aggregating) involves
training multiple models on different subsets of the data and averaging their predictions.
This reduces variance and helps prevent overfitting. Boosting sequentially trains models,
with each new model focusing on the errors made by the previous ones. This approach
reduces bias and further improves the general accuracy of predictions. Stacking is the
process of designing a meta-model that combines forecasts from several base models,
taking advantage of their individual strengths. Ensemble methods have been widely
Energies 2024, 17, 5385 8 of 35

adopted in power systems forecasting due to their ability to enhance prediction accuracy
and robustness.

3.2.4. Reinforcement Method

RL is a class of ML in which an agent learns to make decisions through interaction
with the environment. Within power systems, RL can improve the functioning of power
grids through learning from historical datasets and obtaining real-time evaluations. Deep
reinforcement learning (DRL), which combines RL with DL methods, has been able to
handle the complexities associated with modern power systems. DRL algorithms learn to
make optimal decisions in dynamic and uncertain environments. That feature justifies the
applications of potential interest in demand response, energy storage management, and
control of grid stability.

3.2.5. Probabilistic Method

While traditional deterministic methods yield a single point estimate, the probabilistic
forecasting represents a range of possible outcomes along with their respective probability.
This technique is particularly useful in tackling the uncertainties related to power systems,
including the variability of RESs. This method helps operators make informed decisions by
quantifying the risks and uncertainties associated with different scenarios.

3.2.6. Fuzzy Logic Approaches

Fuzzy logic has emerged as a valuable advanced technique in power system fore-
casting, offering a way to handle uncertainty and imprecision in data. Unlike traditional
binary logic, fuzzy logic allows for degrees of truth, making it well-suited for complex
systems with ambiguous or incomplete information. Recent studies have demonstrated the
effectiveness of fuzzy logic in various forecasting tasks within electrical power systems.
Some researchers have proposed using fuzzy logic to improve electricity consumption
forecasting and optimize power network efficiency based on consumer satisfaction and
efficient consumption mode assessment. This approach shows promise in balancing con-
sumption and generation, potentially reducing energy losses in power networks. In the
realm of short-term load forecasting, novel combinations of neural networks and type-2
fuzzy systems have been introduced. These methods, which incorporate feedback into
fuzzy neural networks, have achieved impressive accuracy levels in predicting next-day
electrical loads for urban areas. Such high levels of accuracy underscore the potential of
fuzzy logic in enhancing forecasting precision.
Table 1 provides a comprehensive overview of advanced intelligent forecasting meth-
ods. It details their unique characteristics, strengths, and weaknesses. This summary aims
to facilitate a deeper understanding of each method’s applicability and potential limitations
within the context of electrical power systems.
Energies 2024, 17, 5385 9 of 35

Table 1. Overview of advanced methods of intelligent forecasting.

Method Category Key Techniques Unique Strengths Limitations Typical Tasks Lowest Error Reported Ref.
• Excellent at
• Require large
capturing
• Long Short-term amounts of
complex • Short-term load
Memory Networks training data
patterns forecasting
(LSTMs) • Can be compu-
• Strong fitting ability • Adaptable to • Renewable • MAPE: 1.5–5%
• Convolutional Neural tationally
• Can handle nonlinear various time energy for short-term
Machine Learning, Networks (CNNs) intensive
characteristics horizons generation load forecasting
Deep Learning, ANN • Transformer models • May overfit if [54–64]
• High prediction • Can handle prediction • RMSE: 2.5–3.5%
and SVM • Graph Neural not properly
accuracy with large datasets • Electricity price for solar power
Networks (GNNs) regularized
sufficient data • Superior forecasting forecasting
• Support Vector • Limited
performance in • Grid stability
Machines interpretability
spatial- assessment
• Random Forests (especially deep
temporal
learning)
forecasting
• Requires careful
• Adaptable to design of
changing reward • Demand • Not typically
• Learns optimal environments functions response reported in
strategies through • Deep Q-networks • Can optimize • May be management error metrics;
interaction with the • Policy Gradient for long-term unstable during • Energy storage often measured
Reinforcement
environment methods outcomes training optimization in terms of [52,58,65]
Learning
• Can handle dynamic • Actor–222Critic • Suitable for • Can be • Microgrid cumulative
and uncertain methods real-time data-inefficient control reward or
environments decision- • Challenging to • Adaptive grid policy
making and apply in stability control performance
control safety-critical
systems
• Can be compu-
tationally
expensive • Wind and solar
• Typically
• Requires careful power
• Quantifies reported in
selection of forecasting
uncertainty in probabilistic
• Provides a range of • Bayesian Probabilistic prior • Load
predictions metrics; e.g.,
possible outcomes Technique distributions forecasting with
• Useful for risk 90% prediction
Probabilistic Methods with probabilities • Copula-augmented • May be uncertainty [53,66–68]
assessment intervals with
• Helps in managing state space models sensitive to quantification
• Can incorporate 5–10% average
uncertainties • Quantile Regression model misspeci- • Price
prior width for
fication forecasting in
knowledge renewable
• Can be volatile markets
forecasting
challenging to
interpret for
non-experts
• Can be compu-
tationally
expensive
• Often • Load
• May be
outperforms forecasting
• Combines multiple complex to • MAPE: 1–3%
individual • Renewable
models to improve • Bagging implement and for short-term
models energy
accuracy • Boosting tune load forecasting
Ensemble Methods • Reduces prediction [69–73]
• Reduces errors • Stacking • Can be • RMSE: 2–4% for
overfitting • Comprehensive
compared to • Voting regression challenging to wind power
• More robust to power system
individual methods interpret forecasting
noise and state forecasting
• Potential for
outliers
increased
model
complexity
• Increased
complexity in
• Can leverage model design
strengths of and implemen-
• Long-term load
different tation
forecasting
methods • May require • MAPE: 1–2%
• Combines strengths • CNN-LSTM • Integrated
• Potentially more expertise for day-ahead
of multiple combinations renewable
more accurate to develop and load forecasting
Hybrid Models techniques • Physics-informed energy [74–77]
than single maintain • RMSE: 1.5–3%
• Often outperforms neural networks forecasting
models • Risk of for solar power
individual models • ANN-SVM hybrids • Complex
• Flexible and overfitting if forecasting
system-wide
adaptable to not properly
predictions
various designed
scenarios • Can be compu-
tationally
intensive
• Effective in
handling
linguistic • May require
variables careful tuning
• Long-term load
• Robust of membership
• Fuzzy regression forecasting
• Handles uncertainty performance functions • MAPE: 2–6%
• Interval type-2 fuzzy • Short-term load
and imprecision with uncertain • Can be compu- for short-term
logic systems forecasting
Fuzzy Logic • Allows for degrees of data tationally load forecasting
• Fuzzy time series • Electricity price [78–81]
Approaches truth • Can integrate intensive for • RMSE: 3–7% for
• Adaptive neuro-fuzzy forecasting
• Can incorporate expert large rule bases electricity price
inference systems • Renewable
expert knowledge knowledge • Performance forecasting
(ANFIS) energy
easily depends on
forecasting
• Suitable for quality of fuzzy
complex, rules
non-linear
systems

4. Applications of Intelligent Forecasting

The various intelligent techniques for forecasting in electrical power systems find wide
applications in energy mix optimization, management of energy storage, and coordination
of hydro-thermal operations. These techniques increase the predictability of electricity
demand and pre-informed conditions for renewable energy generation, thus further fa-
cilitating power system operations with efficiency and reliability. They are also expected
Energies 2024, 17, 5385 10 of 35

to reduce costs and enhance market competitiveness. The subsequent sections delve into
these applications in greater detail.

4.1. Load Forecasting

Load forecasting is a critical application of intelligent forecasting techniques in electri-
cal power systems, playing a vital role in supporting the transition to more sustainable and
efficient energy infrastructure. As highlighted by Ibrahim et al. in [82], load forecasting
is particularly crucial in the context of smart grids, where concerns for power system
reliability and security are paramount. The increasing complexity of modern power sys-
tems, driven by the integration of RESs and the deregulation of power sectors, has made
accurate load forecasting more challenging and important than ever. The applications of
load forecasting extend to various operational and planning activities in power systems.
For instance, Giap et al. emphasize that accurate load forecasting is crucial for ensuring
sufficient power supply and preventing economic losses due to either power shortages or
excess capacity [83]. This is particularly relevant in developing regions, as demonstrated
by their study in the IA-Grai District of Gia Lai Province, Vietnam. In more advanced
power systems, such as in Europe, the demands on load forecasting have become even
more stringent. Esclapez et al. note that prediction systems in Europe now need to operate
on a quarter-hour basis, significantly increasing the computational burden. This situation
has led to innovative approaches in load forecasting, such as algorithms that selectively
update forecasts to optimize computational resources while maintaining or even improv-
ing accuracy [84]. The Greek electricity system provides another interesting case study.
Stamatellos and Stamatelos demonstrated that even relatively simple forecasting models,
when robustly designed, can achieve performance levels comparable to those of system
operators [85]. Their study, using public domain electric load data and typical climatic data,
showed that a simple feed-forward ANN could make 24-h-ahead hourly electricity load
forecasts with an accuracy close to that of the Greek system operator. Short-term load fore-
casting (STLF), typically covering periods from a few hours to a week ahead, has emerged
as an active area of research and application. STLF is essential for day-to-day operations of
power systems, enabling energy planners to use advanced methods and technologies for
sustainable expansion [82]. In practical terms, STLF helps utilities and system operators
manage energy operations more efficiently, indirectly saving money and reducing CO2
emissions [84]. These applications highlight the versatility of load forecasting techniques
across different power system contexts. From supporting the transition to smart grids and
renewable energy integration to optimizing day-to-day operations and long-term planning,
load forecasting continues to be a cornerstone of modern power system management.

4.2. Renewable Energy Generation Forecasting

Renewable energy generation forecasting has become increasingly crucial in the evolv-
ing landscape of electrical power systems. As the integration of RESs into power grids
continues to grow, accurate forecasting of their generation becomes essential for main-
taining grid stability, optimizing energy management, and supporting the transition to
sustainable energy systems. The Smart4RES project, as described by Camal et al. in [86],
exemplifies the cutting-edge efforts in this field. The project aims to improve the per-
formance of short-term forecasting models for RESs and associated weather forecasting,
while also optimizing decisions in power systems and electricity markets. This initiative is
particularly focused on distribution grids, addressing challenges such as grid congestion,
voltage deviations, and power quality issues that arise from the intermittent nature of re-
newables. One of the key applications of renewable energy forecasting is in the day-ahead
and real-time operation of wind and solar farms. Camal et al. highlight the development
of accurate forecasting systems for these purposes, which are crucial for grid operators
and energy traders. Additionally, they mention methods for predicting short-term wind
power fluctuations and their impact on grid stability, showcasing how forecasting directly
contributes to maintaining a reliable power supply. The integration of renewable energy
Energies 2024, 17, 5385 11 of 35

forecasting with consumption patterns offers innovative approaches to energy management.

Vinagre et al. explored the correlation between solar radiation and electrical consumption
of lights to improve energy consumption forecasting. Their study, conducted at the Poly-
technic of Porto campus, employed multiple forecasting methods including multi-layer
perceptron ANNs, support vector regression, and linear regression [87]. This application
demonstrates how renewable energy forecasting can be coupled with load forecasting to
enhance overall energy system management. The application of AI algorithms in renewable
energy forecasting is a growing trend. Szczepaniuk provides a comprehensive overview of
AI applications in the energy sector, including renewable energy sources. Their research
indicates that AI algorithms can significantly improve processes in energy generation,
distribution, storage, consumption, and trading. For renewable energy forecasting, these
algorithms offer enhanced capabilities in handling the complex, non-linear relationships
inherent in weather-dependent energy sources [88]. As highlighted by Klyuev et al., the
urgent task of balancing electricity production and consumption becomes even more critical
with the increasing share of renewables. Their review of forecasting methods emphasizes
the importance of considering the forecasting horizon, which is particularly relevant for
RESs given their variability across different timescales [58].

4.3. Electricity Price Forecasting

Electricity price forecasting has emerged as a critical application of intelligent forecast-
ing techniques in the modern electricity market. As power systems become increasingly
complex and dynamic, accurate price predictions are essential for market participants,
system operators, and consumers to make informed decisions and optimize their strategies.
The volatility and unpredictability of electricity prices, influenced by factors such as
usage patterns, weather conditions, outages, location, and economic variables, underscore
the importance of sophisticated forecasting methods. Corippo et al. highlight this com-
plexity, emphasizing that the ability to predict these prices presents great value to both
consumers and utility companies [89]. Their research demonstrates the effectiveness of
computational intelligence and neural networks in analyzing historical electrical pricing
data to predict future prices, achieving impressive accuracy with a Root Mean Square
Error (RMSE) of 0.476 and a Mean Absolute Percentage Error (MAPE) of 3.61%. In the
context of smart grid and demand response programs, electricity price forecasting plays
a crucial role in reducing investment and operation costs. Rezaei et al. proposed an in-
novative approach using Gated Recurrent Units (GRUs) for price forecasting [90]. Their
methodology incorporates electrical load consumption as an input variable and integrates
an adaptive noise reducer to enhance model performance. This approach not only improves
the efficiency of demand response programs but also provides producers with effective
tools to make informed decisions in the electricity market, potentially leading to significant
cost savings through optimal resource utilization. The importance of long-term electricity
price forecasting is emphasized by Ortiz et al., who present two methodologies specifically
for the Spanish electricity market [91]. Their study, using real data, underscores the neces-
sity of price forecasting for all market participants. Long-term forecasts are particularly
valuable for strategic planning, investment decisions, and policy-making in the energy
sector. Advancements in DL techniques have further enhanced the accuracy and reliability
of electricity price forecasting. Pourdaryaei et al. introduced a novel framework combining
multi-head self-attention and CNN techniques. Their approach, which includes a feature
selection method using mutual information and neural networks, demonstrated superior
performance across different seasons. The proposed model achieved the lowest average
MAPE of 1.75% and RMSE of 0.0085, outperforming other DL models and setting a new
benchmark in forecasting accuracy [92]. The application of electricity price forecasting
extends beyond mere prediction. As highlighted by Klyuev et al. in their literature review,
various forecasting methods, including regression, autoregressive models, probabilistic
forecasting techniques, and deep machine learning algorithms, can be applied to electricity
 Energies 2024, 17, x FOR PEER REVIEW 1

Energies 2024, 17, 5385 12 of 35

regressive models, probabilistic forecasting techniques, and deep machine learning
rithms, can be applied to electricity price forecasting. The choice of method often de
price forecasting. Thespecific
on the choice of method often
forecasting depends
horizon and theonunique
the specific forecastingofhorizon
characteristics the electricity m
and the uniqueincharacteristics
question [58].of the electricity market in question [58].
Figure 2 provides a comprehensive
Figure overview of theoverview
2 provides a comprehensive various applications ofapplications
of the various intelligent of intel
forecasting methods in predicting
forecasting methods electricity prices
in predicting and their
electricity subsequent
prices and theirimpact on the impact o
subsequent
market. This figure
market. This figure concisely illustrates how these advanced techniquesthe
concisely illustrates how these advanced techniques can enhance can enhan
accuracy of price predictions,
accuracy thereby
of price influencing
predictions, market
thereby dynamics
influencing and dynamics
market decision-making
and decision-m
processes. processes.

Market Operations: Optimize bidding strategies and manage financial risks in

electricity markets.
Advanced forecasting techniques in electric
power systems have diverse applications:

Infrastructure Planning: Guide long-term investment decisions in generation

and transmission.

Demand Management: Enhance demand response programs by predicting

price signals.

Renewable Integration: Manage the intermittency of renewable resources and

their market impact.

Policy Development: Assist regulators in assessing energy policies and market

designs.

Figure 2. Implementations
Figure 2. Implementations of advanced
of advanced forecasting forecasting
methods methods
to predict to predict
electricity prices.electricity prices.

4.4. Demand Response Forecasting

4.4. Demand Response Forecasting
Demand response Demandforecasting
response hasforecasting
emerged ashas a critical
emergedapplication of application
as a critical intelligent fore-
of intelligen
casting techniques in modern smart grids. As power systems evolve to
casting techniques in modern smart grids. As power systems evolve to accommoda accommodate
increasing renewable
creasingenergy
renewableintegration
energy and dynamic
integration consumer
and dynamicbehavior,
consumeraccurate
behavior,pre-
accurate p
diction of demand response becomes essential for maintaining grid stability, optimizing
tion of demand response becomes essential for maintaining grid stability, optimizin
energy resources, and enhancing overall system efficiency.
ergy resources, and enhancing overall system efficiency.
The importance of demand response prediction is underscored by the vast amounts
The importance of demand response prediction is underscored by the vast am
of data generated in smart grids. Kumari et al. highlight that the preprocessing and
of data generated in smart grids. Kumari et al. highlight that the preprocessing and
integration of these extensive data are crucial steps in the load forecasting process [93].
gration of these extensive data are crucial steps in the load forecasting process [93].
Their research demonstrates the effectiveness of the Prophet technique in predicting future
research demonstrates the effectiveness of the Prophet technique in predicting futu
demand response based on historical data. This method shows resilience even when faced
mand response based on historical data. This method shows resilience even when
with missing values, fluctuations, trends, and abnormal variations, making it particularly
with missing values, fluctuations, trends, and abnormal variations, making it partic
valuable in real-world applications where data quality can be inconsistent. DL models
valuable in real-world applications where data quality can be inconsistent. DL m
have shown significant promise in demand forecasting for smart grids. Aguiar-Pérez and
have shown significant promise in demand forecasting for smart grids. Aguiar-Pére
Pérez-Juárez emphasize that these models are adept at learning patterns from customer
Pérez-Juárez emphasize that these models are adept at learning patterns from cus
data and forecasting demand across various time horizons [94]. They specifically point
data and
out the effectiveness forecasting
of LSTM networksdemand
in thisacross
domain.various time horizons
The application [94].advanced
of such They specifically
out thefor
techniques is crucial effectiveness
efficient powerof LSTM networks
systems, in this
helping domain.supply
to balance The application
and demand, of such adv
particularly in the context of demand response programs and maintaining power system and dem
techniques is crucial for efficient power systems, helping to balance supply
particularly
stability. The integration of in
AIthe context of
in demand demand
response hasresponse
opened programs
new avenues andfor
maintaining
enhancing power s
stability. The integration of AI in demand response has
energy system reliability. Ali et al. discuss the significant growth of demand response opened new avenues for en
ing energy system reliability. Ali et al. discuss the significant
as a cost-effective technique for improving energy system dependability [95]. AI’s ability growth of demand res
as a cost-effective
to handle complex tasks and providetechnique for improving
near-real-time energy
decisions system
makes it adependability
key technology [95]. AI’s a
to handle complex
for enabling demand-side tasks andThe
management. provide
authors near-real-time decisions
highlight various makes it aofkey techn
applications
optimization algorithms in demand response, including consumer selection, attribute and
Energies 2024, 17, 5385 13 of 35

preference learning, dynamic pricing, device scheduling and control, and incentive design.
In the context of STLF, which is crucial for demand response, Ibrahim et al. demonstrate the
superiority of DL regression models. Their research shows that such models can achieve
high accuracy, with an R-squared value of 0.93 and a MAPE of 2.9%. This level of accuracy
is vital for effective demand response strategies, as it allows for more precise matching
of supply with anticipated demand [82]. The application of demand response prediction
extends to various scenarios in smart grids [96]:
• Grid Stability Management: Accurate demand response prediction helps system
operators anticipate and manage potential imbalances between supply and demand,
especially with the increasing integration of intermittent renewable energy sources.
• Optimized Resource Allocation: Utilities can use demand response forecasting to
optimize the scheduling of generation resources, reducing the need for expensive
peaking plants and minimizing operational costs.
• Dynamic Pricing Strategies: Demand response forecasting enables the implementation
of more effective dynamic pricing schemes, encouraging consumers to shift their
energy usage to off-peak hours.
• Consumer Engagement: By predicting demand response patterns, utilities can develop
more targeted and effective consumer engagement programs, enhancing participation
in demand response initiatives.
• Renewable Energy Integration: demand response forecasting aids in managing the
variability of renewable energy sources by anticipating when demand can be shifted
to match renewable generation peaks.
• Smart Home and Building Management: Advanced demand response forecasting
techniques can be integrated into smart home and building management systems, auto-
matically adjusting energy consumption based on predicted grid conditions and prices.
• Electric Vehicle (EV) Charging Management: As EV adoption increases, demand
response forecasting becomes crucial for managing the significant load they represent,
optimizing charging schedules to benefit both the grid and vehicle owners.
However, challenges remain in the field of demand response prediction. Assad
et al. point out the limitations of current intelligent algorithms and suggest that quantum
algorithms could potentially optimize the computational burden in future smart grid
applications. This highlights the ongoing need for research and development in this field
to address the increasing complexity of smart grids and demand response scenarios [96].

5. Optimization
Optimization refers to the process of identifying the most effective solution to a prob-
lem within a set of given constraints. In this context, a mathematical expression is optimized
when the values of its variables are determined in such a way that the expression’s value
is either maximized or minimized. Optimization can also be described as a mathematical
tool used to find the best strategy for executing a specific task among several possible
methods. To achieve this goal, a criterion must be established to compare different feasible
designs and select the optimal one. This criterion is expressed as a function of the problem
variables and is known as the objective function. In certain scenarios, it is necessary to
satisfy multiple criteria simultaneously, leading to a multi-objective optimization prob-
lem. These functions are often non-homogeneous and non-proportional, which increases
the complexity of the problem. The following sections delve into the details of single-
objective and multi-objective optimization, along with various optimization algorithms.
This comprehensive exploration provides insights into the methodologies and applications
of optimization in the electric power systems field. But, before exploring specific optimiza-
tion algorithms, it is essential to understand non-convex optimization problems, which are
prevalent in power system applications. While some problems can be formulated as convex,
many real-world power system scenarios lead to non-convex problems characterized by
multiple local optima, making global optimum discovery challenging. Non-convexity in
power systems often stems from nonlinear relationships between variables (e.g., quadratic
Energies 2024, 17, 5385 14 of 35

relationship between power flow and voltage magnitudes), discrete decision variables (like
generator on/off status), inherently non-convex AC power flow equations, and non-convex
feasible regions introduced by system stability and security constraints. This non-convexity
significantly complicates the optimization process, as traditional gradient-based methods
may converge to local rather than global optima. Consequently, advanced optimization
techniques, including heuristic and metaheuristic algorithms, have been developed to
better navigate non-convex solution spaces. Understanding the non-convex nature of many
power system optimization problems is crucial for appreciating the need for sophisticated
algorithms and the challenges in finding optimal solutions for complex power system
operations.

5.1. Single-Objective Optimization Problem

The basic form of a single-objective problem in electrical power systems is focused on
meeting a particular goal; for example, the goal could be to minimize the total generation
cost, minimize the power losses, or maximize the efficiency of the system. This process
involves determining the optimal settings for various control variables such as the gen-
erator outputs, voltage levels, and transformer taps to an acceptable level to achieve the
desired objective. The optimization must meet many constraints like power flow balance
equations, generator capacities, voltage profile, and network security. Once the problem
is set mathematically, it can be solved using a variety of optimization algorithms in order
to find the best solution as explained in the following sections. This optimization process
is very crucial for grid operators to be able to schedule the generation and distribution of
electricity in a way that is efficient and meets the demand, and this has to be performed
at the least cost possible as well as fulfilling the regulatory and environmental require-
ments [97]. By continuously improving these optimization techniques, the power industry
can better handle the complexities of modern electrical grids, integrating RESs and adapting
to changing consumption patterns.

5.2. Multi-Objective Optimization Problem

Multi-objective problems in electric power systems may be defined as a problem in
which two or more conflicting objectives must be attained. These objectives often include
minimizing costs, reducing emissions, enhancing reliability, and maximizing efficiency.
The complexity arises because improving one objective may negatively impact another,
creating the need for trade-offs. Some of the important entities involved here include
generation units, transmission networks, and demand loads, all of which interconnect in a
complex manner. To manage these trade-offs, the decision-makers employ multi-objective
algorithms of optimization, most especially the Pareto optimization. This method optimizes
a number of objectives and defines a set of equally optimal solutions called the Pareto front,
from which a decision-maker can choose the best option in terms of priorities [98]. The
importance of multi-objective optimization in sustainable energy management cannot be
overstated. Ultimately, effectively addressing multi-objective problems leads to a more
sustainable and resilient energy future, balancing environmental concerns with operational
and economic needs.

6. Optimization Algorithms
Optimization algorithms have been an integral part of developing and functioning
electrical power systems. Historically, these methods have evolved from simple linear pro-
gramming (LP) techniques to more sophisticated approaches like mixed-integer program-
ming, dynamic programming (DP), and heuristic algorithms. It was originally considered
that optimization applies to solving economic dispatch and unit commitment problems
to meet power generation and demand at minimum cost. The advent of RESs and smart
grids increased the complexity of the power systems, thereby calling for more advanced
optimization techniques. GA, PSO, ACO, TLBO, and ML-based techniques are a few of
the many methods used nowadays to deal with uncertainties and variability related to the
 gramming, dynamic programming (DP), and heuristic algorithms. It was originally con-
sidered that optimization applies to solving economic dispatch and unit commitment
problems to meet power generation and demand at minimum cost. The advent of RESs
Energies 2024, 17, 5385 and smart grids increased the complexity of the power systems, thereby calling for15more of 35
advanced optimization techniques. GA, PSO, ACO, TLBO, and ML-based techniques are
a few of the many methods used nowadays to deal with uncertainties and variability re-
integration
lated to theofintegration
renewableof energies.
renewableThese methods
energies. are employed
These methods arein many powerinsystem
employed many
planning,
power system operation, andoperation,
planning, control aspects. The primary
and control aspects.goal
The is to minimize
primary goal iscosts, reduce
to minimize
losses,reduce
costs, improve stability,
losses, improveandstability,
enhanceandoverall system
enhance performance
overall while satisfying
system performance whilevari-
sat-
isfying various constraints related to power flow, voltage limits, and equipmentFigure
ous constraints related to power flow, voltage limits, and equipment capacities. capaci-3
demonstrates
ties. the optimization
Figure 3 demonstrates the algorithms
optimizationconsidered
algorithmsinconsidered
this study. in this study.

Single-Objective
LP, NLP, MLIP, DP
Problem
Classical Optimization
Algorithms
Multi-Objective ε-Constraint Method
Problem , Weighted sum, Pareto optimization, MILP

Single-Objective
GA, PSO, SA, FA, BA, ISA, POA
Problem
Heuristic and
Metaheuristic Algorithms
Multi-Objective
MOPSO, NSGA-3
Problem
Optimization
Algorithms
Single-Objective
HJ, FA, BA, ISA, UMGF
Problem
Hybrid Algorithms
Multi-Objective
MOGA, TLBO, PSO
Problem

Single-Objective
ML, SVM, CNN, LSTM
Problem
Advanced Algorithms
Multi-Objective PSO-DLOPF
Problem

Figure
Figure 3.
3. Overview
Overview of
of various
various optimization
optimization algorithms.
algorithms.

6.1. Classical
6.1. Classical Optimization
Optimization Algorithms
Algorithms
Classical optimization
Classical optimizationalgorithms,
algorithms,including Linear
including Programming
Linear Programming (LP), Nonlinear
(LP), Pro-
Nonlinear
gramming (NLP),
Programming Mixed
(NLP), Integer
Mixed Linear
Integer Programming
Linear (MILP),
Programming and and
(MILP), Dynamic Programming
Dynamic Program-
(DP), form the
ming (DP), formfoundation of many
the foundation optimization
of many problems
optimization in electrical
problems power
in electrical systems.
power sys-
These methods have been instrumental in addressing challenges in power system
tems. These methods have been instrumental in addressing challenges in power system planning,
operation,operation,
planning, and control.and control.
6.1.1. Single-Objective Problem
6.1.1. Single-Objective Problem
Classical optimization algorithms aim to find the optimal solution for a single-objective
Classical optimization algorithms aim to find the optimal solution for a single-objec-
function while satisfying a set of constraints. In the recent literature, several key approaches
tive function while satisfying a set of constraints. In the recent literature, several key ap-
and applications have emerged, demonstrating the continued relevance and evolution of
proaches and applications have emerged, demonstrating the continued relevance and
classical optimization techniques.
evolution of classical optimization techniques.
LP appears as a basic optimization algorithm of interpretation for power systems.
LP appears as a basic optimization algorithm of interpretation for power systems.
Tsvettsykh et al. used LP as a component of the optimization strategy for predicting
Tsvettsykh et al. used LP as a component of the optimization strategy for predicting and
and improving the sustainable innovation growth in the enterprise of the electric power
improving the approach
industry. Their sustainable innovationLP
incorporates growth in the enterprise
with multi-criteria of the electric
decision-making, power the
applying in-
dustry.language.
AMPL Their approach incorporates
This method LP with
was useful multi-criteria
in power industrydecision-making, applying
enterprises in their the
decision-
AMPL language. This method was useful in power industry enterprises in their
making regarding strategic directions for achieving the goals of sustainable innovative decision-
making
developmentregarding
[99]. strategic
This was directions
followed byforanachieving
approachthe goals of sustainable
developed by Fan et al.innovative
using the
development
finite cost constraint theory as a basis for an improved flexible responseFan
[99]. This was followed by an approach developed by et al. using
capability the
of power
finite costThis
systems. constraint
method theory
involvesasthea basis forofan
creation improved
a bidding flexible
function response
with capability
a monthly quotationof
at its heart, calculation of a demand response inhibition factor, one-dimensional feature
recognition vector calculation influenced by length waveform, and finally, an analysis of
the credibility of the feature points under varying conditions. The approach then leads
to the formulation of a power emergency demand response model using the limited cost
constrained approach with a view of minimizing operating costs [100]. The formulation of
Energies 2024, 17, 5385 16 of 35

objective functions is crucial in addressing specific power system challenges. Hamouda

Ali et al. introduced three single-objective functions for the Optimal Reactive Power
Dispatch (ORPD) problem: voltage deviation, system operating cost, and real power loss.
Additionally, they considered transmission power loss minimization as a key objective,
highlighting the diverse goals that can be pursued within the framework of classical
optimization [101]. The effectiveness of these classical methods is often evaluated through
comparison with more advanced techniques. For example, Manikandan et al. stated
that although methods like the Conventional Lagrange method can be used to solve the
economic dispatch problem in renewable integrated MGs, the Sparrow Search Algorithm is
usually more effective [102].

6.1.2. Multi-Objective Problem

Classical optimization algorithms for multi-objective problems in electrical power
systems have evolved to address the complex challenges of balancing multiple, often con-
flicting objectives. The recent literature highlights several key approaches and applications
in this domain.
In [103], Mallégol et al. suggest the possible approach to address non-linearities in
Multi-Energy System (MES) mathematical models. Their approach represents an MES as
a multi-objective MILP corresponding to the dual objectives of maximum cost reduction
and the rate of RESs. This method enables a relatively intricate operation and an accurate
system configuration in comparison to traditional approaches, yet it maintains lower levels
of complexity compared to the latter. The efficiency of this approach was shown by solving
a permanent MES optimization problem with hourly time steps through the year with
acceptable computation times. In the context of DC networks with high photovoltaic (PV)
penetration, Montoya et al. formulated an EMS as a multi-objective optimization problem.
Their approach considers economic, technical, and environmental objective functions si-
multaneously. To solve this complex problem, they implemented a weighted optimization
method for each pair of conflicting objective functions. Additionally, they proposed an
iterative solution methodology (ISM) to eliminate errors introduced by linearization. This
methodology proved effective in reaching the optimal global solution for each objective
function, as demonstrated in simulations using the monopolar version of the IEEE 33-bus
grid [104]. The OPF problem has also seen advancements in multi-objective optimization.
To cope with the difficulties of solving OPF problems in large-scale power systems, Wu et al.
developed an improved decomposition-based multi-objective algorithm called IMOEA/D.
Their approach aims to accelerate algorithm convergence and increase species diversity
through three key strategies: (1) the barnacle optimization algorithm against the differential
evolution algorithms: a competition strategy. (2) An adaptive mutation strategy. (3) Selec-
tive candidate with similarity selection to balance exploration and exploitation capabilities.
These improvements indeed enhanced the population diversity and, thereby, established
the superiority and efficiency of the proposed algorithm for solving the multi-objective
OPF problems confirmed on IEEE 30-bus and IEEE 57-bus test systems [105].
Moreover, algorithms such as ε-constraint, Weighted sum, and Pareto optimization
are other classic algorithms have been employed to solve optimization problems. The
ε-constraint method is aimed at maximizing one of the objectives while putting others to be
constraints having some bounds. It systematically changes these constraints to generate a
pareto optimal solution that enables one to undertake a trade-off analysis of the conflicting
objectives. Villacrés and Carrión proposed a methodology for solving the real and reactive
power dispatch problem with more than one objective in order to minimize the active
power losses and generation costs based on MINLP using the ε-constraint method and
fuzzy satisficing approach, demonstrating its superiority to the one available in Digsilent
Power Factory [106]. The Weighted Sum Method combines multiple objectives into a single
objective by assigning weights to each criterion. The overall performance is evaluated
based on these weighted criteria, making it easier to identify optimal solutions across
different objectives. Marler presented a method using this approach to solve complex
Energies 2024, 17, 5385 17 of 35

optimization problems in power systems, highlighting its advantages in achieving balanced

solutions [107]. Pareto Optimization, also known as multi-objective optimization, seeks
solutions where no objective can be improved without worsening another. The set of
all such non-dominated solutions forms the Pareto front, representing the best trade-offs
among objectives. Fettah et al. proposed an optimization framework employing the Multi-
Objective Multi-Verse Optimization (MOMVO) algorithm to optimize the integration of
DGs and Capacitor Banks (CBs) into electrical distribution networks [108].
These studies collectively highlight the evolving nature of classical optimization
methods in addressing multi-objective problems in power systems. Key trends include
the following: (1) the integration of linearization techniques to handle non-linear aspects
of power systems while maintaining computational efficiency. (2) The development of
weighted optimization methods to balance multiple objectives. (3) The use of iterative
solution methodologies to refine solutions and eliminate errors introduced by simplification
techniques. (4) The incorporation of nature-inspired algorithms and adaptive strategies to
enhance solution diversity and convergence in complex, large-scale systems.

6.2. Heuristic and Metaheuristic Algorithms

Heuristic and metaheuristic algorithms have gained significant attention in solving
complex optimization problems in electric power systems. These techniques offer practical
solutions to challenges that are often difficult or time-consuming to solve using classi-
cal optimization methods. Heuristic methods are problem-specific algorithms that use
practical rules or educated guesses to find good, but not necessarily optimal, solutions.
Metaheuristics, on the other hand, are higher-level procedures designed to find, generate, or
select a heuristic that may provide a sufficiently good solution to an optimization problem,
especially with incomplete or imperfect information or limited computation capacity.

6.2.1. Single-Objective Problem

Heuristic and metaheuristic algorithms have gained significant traction in solving
single-objective optimization problems in electrical power systems. These methods offer
powerful alternatives to classical optimization techniques, especially when dealing with
complex, non-linear problems that are characteristic of modern power systems. The recent
literature highlights several key approaches and applications in this domain.
Guerraiche et al. proposed an innovative approach to the techno-economic green
optimization of MGs using swarm metaheuristics. Their study focused on optimizing the
series–parallel power energy system using three distinct algorithms: Firefly Algorithm (FA),
Bat Algorithm (BA), and Interior Search Algorithm (ISA). The objective function considered
both the total cost of the system and emission gases, taking into account device dependabil-
ity, performance, capital costs, and maintenance costs. The authors demonstrated through
numeric simulations that these swarm metaheuristic algorithms could lead to significant
reductions in costs while maintaining an acceptable level of reliability in MGs [109]. In
the context of OPF problems, Hamouda Ali et al. introduced the Peafowl Optimization
Algorithm (POA) as an effective method for load dispatch and power flow in power grids.
Their research showed that POA outperformed various other optimization techniques,
including COOT, GJO, HPO, LSMA, RSA, SCSO, and SOA. The POA demonstrated signifi-
cant potential in identifying the most appropriate global solutions, investigating preferred
search locations, and ensuring fast convergence speed. This makes it a promising ap-
proach to solving complex OPF problems in electric power systems [110]. While not strictly
a metaheuristic method, Carreras and Kirchsteiger proposed an empirical approach to
optimize non-linear problems in domestic energy management systems. Their method,
which considers the non-linear behavior of battery inverters, involves iterations of linear
optimization problems to determine the optimal charging and discharging strategy. This
approach, although not a traditional metaheuristic, demonstrates the importance of con-
sidering non-linearities in power system optimization and could potentially be integrated
with metaheuristic methods for more comprehensive solutions [111]. Sousa et al. evaluated
Energies 2024, 17, 5385 18 of 35

different initial solution algorithms to be used in heuristic optimization for solving energy
resource scheduling in smart grids. They proposed two initial solution algorithms for
use with the Simulated Annealing (SA) metaheuristic. Their findings showed that an
adequate algorithm for generating a good initial solution could significantly improve the
metaheuristic’s performance in finding a final solution close to the optimal, compared to
using a random initial solution. The proposed approach achieved results within 0.1% of
the optimal solution in just one minute, whereas a deterministic technique, while obtaining
the optimal result, required around 26 h [112].

6.2.2. Multi-Objective Problem

Heuristic and metaheuristic algorithms are particularly effective in addressing com-
plex scenarios where multiple, often conflicting objectives need to be balanced. The recent
literature highlights several key approaches and applications in this domain. Mallégol
et al. in [113] proposed a fast heuristic algorithm for MESs design optimization. Their
approach addresses the complexity of optimizing MESs over long time periods with a
high temporal resolution, which is typically infeasible using traditional methods. The
algorithm was applied to a district-scale MES with five types of generation units, includ-
ing combined heat and power (CHP). The results showed that the heuristic was up to
99.9% faster than state-of-the-art MILP solvers for smaller time periods, with a mean error
of just 2.3 × 10−4 %. Shi et al. introduced an innovative multi-objective optimization
model for a three-phase transformer design. They proposed a hybrid algorithm termed
MOPSO-NSGA3, combining Multi-Objective Particle Swarm Optimization (MOPSO) and
Non-Dominated Sorting Genetic Algorithm-3 (NSGA-3). This approach effectively min-
imized short-circuit deviation, operating loss, and manufacturing costs while satisfying
various design parameter constraints. The algorithm was tested on 50 MVA/110 kV and
63 MVA/110 kV prototypes, demonstrating a maximum error of less than 7% [114]. Borges
et al. developed a multi-objective PSO methodology for energy resource management in
systems with high penetration of Distributed Generation (DG) and EVs. Their approach
aimed to maximize profit while minimizing CO2 emissions, applied to a real Spanish elec-
tric network in Zaragoza with 1300 EVs and 70% DG penetration. The study normalized
cost and CO2 emissions by subtracting the minimum value and dividing by the range,
providing a balanced approach to these conflicting objectives [115].

6.3. Hybrid Algorithms

Hybrid optimization algorithms use several sub-algorithms to take advantage of
one technique while avoiding the drawbacks of the other techniques. Due to this, these
approaches can efficiently solve difficult problems that cannot be solved effectively by
a single algorithm involved in the approach. They are especially valuable in large-scale
combinatorial optimization where all known algorithms improve solution quality and
reduce computational time. This hybridization is used widely in various sectors such as
data analysis, transportation, and communication networks.

6.3.1. Single-Objective Problem

Hybrid optimization algorithms combine different optimization techniques to lever-
age their respective strengths and overcome individual limitations. The recent literature
highlights several innovative approaches in this domain. Li et al. proposed a hybrid
optimization algorithm for capacity optimization in integrated energy systems. This ap-
proach combines PSO algorithms with the Hooke-Jeeves (HJ) method. The hybrid algorithm
demonstrated significant improvements in both optimization speed and accuracy compared
to traditional single optimization methods. Notably, it reduced the number of iteration
steps by approximately 31% compared to the PSO alone and by about 48% compared to the
HJ algorithm. This efficiency gain translated into substantial cost savings, with the hybrid
approach reducing overall system costs by approximately 60% compared to traditional
methods [116]. Guerraiche et al. demonstrated a techno-economic green optimization
Energies 2024, 17, 5385 19 of 35

model for MGs using a swarm metaheuristic-based approach. While developed with an
emphasis on multi-objective problems, their method shows that the use of hybrids can
be effective in single-objective cases. In the study, three optimization techniques, Firefly
FA, BA, and ISA, were used while Ushakov algorithm (UMGF) was applied to estimate
reliability. The conventional as well as modernistic control-suitable strategy used in this
study was more efficient in managing the power flow whilst minimizing the costs of energy
consumption and without compromising the reliability of the system [109].

6.3.2. Multi-Objective Problem

Addressing power quality issues in renewable energy systems, Hooda and Saini
presented a power quality control strategy for a 3-bus solar-based hybrid system. Their
approach employs a Multi-Objective Genetic Algorithm (MOGA) for reactive power plan-
ning, combined with a PWM and PID controller for frequency control and STATCOM
for reactive var compensation. Simulations conducted in MATLAB/Simulink 9.1 demon-
strated the effectiveness of this hybrid method, showing an average reactive power saving
of 5.88 kVAR and significant improvements in power quality. This study showcases the
capability of hybrid methods in simultaneously addressing multiple objectives, such as
power factor improvement and reactive power loss reduction in renewable energy-based
systems [117]. In the context of distributed resource allocation, Ansari and Byalihal applied
a hybrid optimization algorithm combining TLBO and PSO for the optimal placement of
DG and STATCOM in power systems. Their multi-objective formulation aimed to maxi-
mize cost–benefit and voltage stability factors while minimizing the network security index
and power losses. The hybrid TLBO-PSO algorithm demonstrated superior convergence
performance compared to individual optimization techniques, highlighting the potential
of hybrid methods in tackling complex, multi-objective optimization problems in power
system planning and operation [118]. The ability of hybrid methods to balance multi-
ple, often conflicting objectives while maintaining or improving the solution quality and
computational efficiency is a significant advantage. These methods can effectively handle
the complexity and conflicting objectives inherent in modern power system design and
operation, demonstrating superior performance in terms of solution quality, convergence
speed, and adaptability to various problem domains.

6.4. Advanced Algorithms

Advanced optimization algorithms leverage cutting-edge computational techniques
and novel algorithmic approaches such as AI-based methods and emerging methods to
overcome the limitations of traditional optimization methods. AI-based methods have
shown significant promise in enhancing decision-making and system performance, while
the emerging optimization methods combine traditional techniques with new compu-
tational paradigms, often leveraging AI and advanced heuristics. The recent literature
demonstrates significant improvements in solution quality, computational efficiency, and
applicability to real-world power system challenges.

6.4.1. Single-Objective Problem

A comprehensive approach to power system optimization was presented by Zhao,
leveraging both mathematical techniques and AI. The research focused on developing
methods for system optimal operation and faulty status detection, utilizing linear approxi-
mation and convex relaxation techniques to address non-convex AC Optimal Power Flow
(ACOPF) problems. Additionally, the study incorporated DL models, specifically CNN and
LSTM networks, for fault recognition and Sub-Synchronous Oscillation (SSO) detection.
This integration of traditional optimization techniques with advanced ML approaches rep-
resents a significant step forward in power system management, demonstrating substantial
improvements in system performance through simulation results [119]. Peng highlights
four main models used in power system stability assessment: (1) SVM, (2) Multilayer Per-
ceptron (MLP), (3) CNN, and (4) LSTM. These models, along with Principal Components
Energies 2024, 17, 5385 20 of 35

Analysis (PCA), have been employed to analyze and predict system stability, with metrics
such as accuracy, recall rate, mean absolute error, and mean squared error being used to
evaluate their performance [120].

6.4.2. Multi-Objective Problem

Advanced optimization algorithms are one significant area of development in the opti-
mization of CCHP systems within the context of smart grids. Chen et al. proposed a novel
approach that employs heuristic algorithms, specifically SA and GA, in conjunction with
Model Predictive Control (MPC) for operation optimization. This method aims to improve
energy efficiency, reduce environmental impact, and enhance system resilience. Simulation
studies verified significant improvements in both energy efficiency and system resilience,
demonstrating the potential of combining heuristic algorithms with advanced control tech-
niques in power system optimization [121]. Fakih et al. presented a bi-level multi-objective
optimization model for designing and operating RESs and battery energy storage (BES)
systems in existing electrical grids. Their approach combines PSO with Dynamic Linear
AC-Optimal Power Flow (DLOPF) to minimize costs while limiting carbon emissions. This
sophisticated model addresses the complex interplay between CO2 constraints, RES and
BES installations, and overall system costs. The study revealed that achieving stricter CO2
limits (up to a 30% reduction) required more RES and BES installations, increasing the
overall cost by USD 15 million but reaching storage limits. This research highlights the
trade-offs between environmental goals and economic considerations in power system
planning [122]. AI’s application extends to smart home energy management as well. Radke
et al. discuss the use of AI technology for optimal utilization of solar resources and reducing
energy consumption for load management. Their proposed method aims to minimize peak
load during peak hours, reduce electricity consumption, and lower electricity bills for
domestic loads [123].
However, it is important to note that the effectiveness of these AI methods often
depends on the quality and quantity of available data, as well as the specific characteristics
of the power system under consideration. Furthermore, these emerging optimization
methods are designed to handle the dynamic and complex nature of modern power sys-
tems, including the integration of RESs and smart grid technologies. There is a strong
focus on developing methods that can provide high-quality solutions within reasonable
computational timeframes, which is crucial for real-time power system operations. Many of
these methods are capable of handling multiple, often conflicting objectives simultaneously,
reflecting the complex nature of power system management.

7. Optimization Application in Power Systems

Optimization algorithms are employed in various applications such as OPF, where
they help determine the most efficient operating conditions for power generation and
distribution. These algorithms are also applied in unit commitment to determine the
schedule of electricity generation plants to meet demand in the most efficient way. In
addition, optimization algorithms are vital for economic load dispatch, which aims to
minimize the total generation cost while satisfying all operational constraints. They are also
used in demand response management, which involves controlling the consumer demand
to correspond to the supply conditions, improving the stability of the grid. Furthermore,
optimization algorithms assist in the integration of RESs by managing the variability and
uncertainty associated with these resources. They are essential in planning and operation
tasks, such as transmission network expansion and maintenance scheduling, ensuring
a reliable and cost-effective power supply. The mentioned applications are explained in
general and discussed in detail in terms of the strengths and weaknesses of the applications
in Table 2.
Energies 2024, 17, 5385 21 of 35

Table 2. Summary of different uses of optimization algorithms in electric power systems.

Application Advantages Disadvantages References

• Minimizes operational costs • Computationally intensive for
Generation Dispatch and Unit • Balances supply and demand large systems [115,124]
Commitment • Can incorporate environmental • Requires accurate load and
objectives (e.g., CO2 reduction) renewable generation forecasts

• Improves system efficiency • Non-convex problem, challenging

Optimal Power Flow (OPF) • Reduces transmission losses to solve [125,126]
• Can be adapted for distributed • May require simplifications for
systems real-time applications

• Supports long-term grid reliability

• Facilitates integration of renewable • Involves significant uncertainty in
Transmission Network Planning energy sources long-term planning [127–129]
and Expansion • Can consider multiple objectives • High investment costs associated
(cost, reliability, environmental with decisions
impact)

• Requires handling of uncertainties in

• Enhances grid stability with high
renewable generation
renewable penetration
Renewable Energy Integration • May need advanced forecasting [111,130,131]
• Improves economic efficiency of
techniques
renewable resources
• Supports energy transition goals • Complexity increases with
system size

• Reduces peak demand • Requires consumer participation and

Demand Response and Load Management • Improves system reliability education [100,132,133]
• Can lead to significant cost savings • Privacy concerns with data collection
for consumers • May face regulatory challenges

• Improves system reliability and

efficiency • Complexity in coordinating multiple
• Reduces operational costs energy sources
Microgrid Operation and Control • Facilitates integration of renewable • Requires advanced control systems [134–136]
energy sources • Potential high initial investment costs
• Enhances energy management
flexibility

• Improves voltage stability • Requires complex modeling of

system components
• Reduces power losses
• May face challenges in real-time
Voltage and Reactive Power Control • Enhances power quality [117,137,138]
implementation
• Supports integration of electric • Potential conflicts between multiple
vehicles and renewable sources optimization objectives

7.1. Generation Dispatch and Unit Commitment

Generation dispatch and unit commitment are fundamental optimization problems in
power system operations. These applications focus on determining the optimal scheduling
and output levels of generating units to meet forecasted demand while minimizing opera-
tional costs and satisfying various system constraints. Recent research in this area includes
the work by Naderi et al., who proposed a hybrid fuzzy-based improved comprehensive
learning PSO-DE algorithm to solve the Optimal Active Power Dispatch (OAPD) problem.
Their approach considers the Unified Power Flow Controller (UPFC) device, demonstrating
significant cost savings in simulations on the IEEE 30-bus system over a 365-day hori-
zon [124]. Borges et al. presented a multi-objective PSO methodology for energy resource
management in systems with high penetration of DG and EVs. Their approach aimed to
maximize profit while minimizing CO2 emissions and was applied to a real Spanish electric
network in Zaragoza with 1300 EVs and 70% DG penetration [115].

7.2. Optimal Power Flow (OPF)

OPF is an optimization problem in power systems that aims to determine the best
operating levels for electric power plants to meet system load at the lowest possible cost
while maintaining system security. Sadnan proposed a scalable Distributed Optimal Power
Flow (D-OPF) method based on Equivalent Network Approximation (ENApp) for efficient
power distribution system operation. This method addresses the computational complex-
ities faced by centralized optimization methods and is more resilient to single points of
failure [125]. Forouzandeh et al. presented a novel business model for smart buildings us-
ing intelligent energy management. They formulated a mixed binary optimization problem
Energies 2024, 17, 5385 22 of 35

to determine the optimal contract power capacity and schedule for electric vehicle/battery
storage charge and discharge, achieving a significant electricity cost reduction of 47% in
their simulations [126].

7.3. Transmission Network Planning and Expansion

Optimization techniques are also employed in long-term planning of transmission
networks, determining the most cost-effective way to expand or reinforce the grid to meet
future demand and reliability requirements. Refaat et al. introduced a new decision-making
strategy for the techno-economic assessment of generation and transmission expansion
planning in modern power systems. Their approach efficiently integrates RESs by control-
ling and enhancing the Hosting Capacity (HC) level. The proposed model demonstrated
its ability to select appropriate projects precisely in simulations on the Garver network and
the 118-bus system [127]. Huang et al. proposed a method to optimize the total capacity of
substations in distribution networks, considering renewable energy penetration rate and
load variations. Their economic analysis model simultaneously optimizes the capacity and
quantity of substation transformers, taking into account the effects of reducing net load
and enhancing the reliability of distribution feeders [128]. Pradilla-Rozo et al. developed
a hybrid optimization methodology based on the modified gradient-based metaheuristic
optimizer (MGbMO) and the successive approximation power flow method to solve the
optimal conductor selection problem in medium-voltage distribution networks. Their ap-
proach achieved significant reductions in annual investment and operating costs compared
to traditional methods [129].

7.4. Renewable Energy Integration

With the increasing penetration of RESs, optimization becomes a vital context in
managing their variability and uncertainty in power systems. Khan et al. proposed an
optimal decision model for the electric power market considering renewable energy units,
loads, energy storage systems, and the involvement of new energy and EVs in market
bidding. Their model takes into account the technological limits of new energy units
and storages, demonstrating that renewable energy systems can achieve greater energy
production efficiency and higher bids for the market with a virtual power plant (VPP)
structure [130]. Oriza et al. introduced a bi-level optimization model for optimal energy
trading between MGs and distribution companies (Discos), considering renewable energies
and a demand management strategy. Their approach, solved using PSO, showed an
optimal solution for energy consumption and trading [131]. Carreras and Kirchsteiger
proposed an improved method to solve non-linear optimization problems in domestic
energy management systems, considering the non-linear behavior of battery inverters.
Their iterative approach to linear optimization problems determined the most adequate
charging and discharging strategy, leading to cost savings and reduced emissions [111].

7.5. Demand Response and Load Management

Optimization techniques are employed to design and implement effective demand
response programs and load management strategies, aiming to optimize the timing of
flexible loads and determine optimal pricing strategies. Priolkar and Sreeraj proposed
an optimal scheduling of loads based on dynamic tariffs and implementation of a Direct
Load Control (DLC)-based demand response program for domestic consumers. They used
binary PSO and a discrete elephant herd optimization algorithm to minimize cost and peak-
to-average ratio, resulting in significant energy cost savings and improved Peak-to-Average
Ratio (PAR) [132]. Fan et al. designed an optimization method for the flexible response
capability of power systems under limited cost constraints. Their approach incorporated a
bidding function with a monthly quotation, demand response inhibition factor, and feature
point credibility under different conditions to minimize operating costs [100]. Dwijendra
et al. proposed an optimal management of energy demand in the electrical distribution
grid using an interval optimization approach and incentive-based modeling of demand
Energies 2024, 17, 5385 23 of 35

response programs with a reserve scheduling mechanism. Their ε-constraint method for a
solution demonstrated positive effects under uncertainties [133].

7.6. MG Operation and Control

MGs have emerged as a promising solution for the future of power generation and
distribution systems, offering flexibility, reliability, and resilience. The optimization of MG
operations is crucial for balancing economic and energy issues while integrating RESs.
Di Somma et al. presented an optimization approach to a residential MG using MILP in
MATLAB. Their method achieved significant reductions in both costs and primary energy
use compared to traditional scenarios, with cost reductions ranging from 2 to 4 times and
primary energy use reductions ranging from 2 to 5 times during the winter season for
both the electricity and heating sectors [134]. Zhang et al. proposed an optimized strategy
for MGs using the Promoted Remora Optimization (PRO) algorithm. Their approach
aimed to meet load power requirements, ensure a constant DC bus voltage, and minimize
operational costs. The study demonstrated a high system efficiency (average 87.99%) and
optimizer efficiency (average 86.46%), with daily operational costs ranging from USD
1,379,595 to USD 1,479,998 [135]. Muzzammel et al. conducted a comparative analysis of
OPF in renewable energy-based MGs. They simulated two cases of battery charging and
discharging using the IEEE-14 bus system in MATLAB/Simulink. Their results showed
that PSO was more promising than the Newton–Raphson method, reducing transmission
line losses by 17% in the battery charging case and 19–20% in the battery discharging case,
while also improving the voltage profile [136].

7.7. Voltage and Reactive Power Control

Voltage and reactive power control are essential aspects of power system operation,
particularly with the increasing penetration of RESs and the integration of EVs. Chen et al.
proposed a reactive power optimization method considering EV discharging/charging
support. Their approach analyzed the charger’s reactive power regulation principle, estab-
lished a charger state constraint model, and integrated a reactive power optimization target
function for the distribution system. The method employed PSO for charger power factor
angle optimization. The results showed that the orderly discharging/charging method
increased the voltage profile and decreased the loss rate of the network by 40%, while also
reducing customer expenditure by 13% [137]. Chi et al. introduced an adaptive many-
objective robust optimization model for the deployment of dynamic reactive power sources
to improve voltage stability in power systems with wind power penetration and induction
loads. Their model simultaneously optimized five objectives: (1) total equipment invest-
ment, (2) adaptive short-term voltage stability evaluation, (3) tie-line power flow evaluation,
(4) prioritized steady-state voltage stability evaluation, and (5) robustness evaluation. They
developed an angle-based adaptive many-objective evolutionary algorithm (MaOEA) with
improvements in adaptive mutation rate and elimination procedure [138]. Hooda and
Saini presented a power quality control strategy for a 3-bus solar-based hybrid system to
improve power quality and reduce power losses. Their approach employed a PWM with
PID controller for frequency control and STATCOM for reactive var compensation. Using
MOGA for reactive power planning, they achieved an average reactive power saving of
5.88 kVAR and significant improvements in power quality [117].
Overall, these studies demonstrate the diverse approaches and techniques being ap-
plied to optimize MG operations and voltage and reactive power control in modern power
systems, addressing the challenges posed by renewable energy integration and evolving
grid technologies. Table 2 offers an in-depth overview of the various applications of opti-
mization techniques in electric power systems. It outlines each application, emphasizing
both the benefits and potential drawbacks associated with these techniques.
Energies 2024, 17, 5385 24 of 35

8. Integration of Forecasting and Optimization

As power grids evolve into intricate and dynamic networks, the integration of intelli-
gent forecasting and optimization has become not just important, but absolutely essential.
Several theoretical frameworks have emerged to address this integration, aiming to enhance
system efficiency, reliability, and adaptability. This section explores key frameworks that
have been proposed in the recent literature.

8.1. Theoretical Frameworks

Probabilistic approaches have gained significant attention in addressing the uncer-
tainties inherent in power system operations. Telle et al. proposed a comprehensive
probabilistic day-ahead forecasting framework for distributed integrated energy systems.
Their approach combines several advanced techniques, including personalized standard
load profiles (PSLPs) for electricity and heat demand as well as PV generation, quantile
regression for profile refinement, and PCHIP (Piecewise Cubic Hermite Interpolating Poly-
nomial) interpolation for approximating empirical cumulative distribution functions. A
key innovation in their framework is the use of discrete convolution to determine joint
probability density functions of distributed net loads. This probabilistic framework makes
it easier to understand likely system states, enabling optimization algorithms to make deci-
sions that account for possible outcomes rather than relying on point forecasts [139]. The
integration of Machine Learning Operations (MLOps) with forecasting and optimization
processes represents another important theoretical framework. Gürses-Tran and Monti
explored this concept, emphasizing the critical need to translate forecast method quality
into tangible business value within the power system wholesale market [140]. As the
computational demands of integrated forecasting and optimization increase, frameworks
focusing on computational efficiency have become essential. Candela Esclapez et al. ad-
dressed this challenge by proposing an innovative algorithm that optimizes the use of
previously calculated forecasts to enhance computational efficiency in STLF. Their approach
is particularly relevant in the European context, where prediction systems need to operate
on a quarter-hour basis, significantly increasing computational requirements [84]. These
frameworks are not mutually exclusive and often overlap in their approaches. For instance,
the probabilistic framework proposed in [139] could potentially be integrated with the
computational efficiency techniques in [84] to create a more robust and efficient system.
Similarly, the MLOps approach explored in [140] could incorporate probabilistic elements
to enhance its ability to handle uncertainties in the power system.

8.2. Applications of Integration

The integration of intelligent forecasting and optimization techniques has revolu-
tionized power system operations. Recent research has demonstrated the wide-ranging
applications of these integrated approaches, from STLF to comprehensive decision-making
enhancement in the electric power sector. At the forefront of these applications is STLF, a
critical component in managing energy operations efficiently. Candela Esclapez et al. made
significant strides in this area by developing an innovative algorithm that not only improves
forecasting accuracy but also reduces computational burden [84]. Building on the theme of
computational efficiency, the application of ML operations in power systems has emerged
as a promising avenue for integrating forecasting and optimization. Gürses-Tran and Monti
explored this concept, emphasizing the importance of aligning model development with
business value in the power system wholesale market [140]. The integration of intelligent
forecasting and optimization extends beyond load forecasting and operational efficiency.
Eikeland presented a comprehensive study showcasing a broad spectrum of applications
in the electric power sector. These applications form a cohesive framework for enhanc-
ing decision-making processes across various aspects of power system operations [141].
Eikeland’s research highlights several key areas in electricity demand forecasting and grid
stability. ML methods have proven more accurate than traditional statistical approaches
for short- and medium-term predictions, enhancing resource allocation and operational
Energies 2024, 17, 5385 25 of 35

planning. Integrated gradients were used to interpret DL models, identifying variables

causing grid disturbances and improving reliability. Advanced forecasting techniques,
particularly for wind power, provide accurate day-ahead probabilistic forecasts, which are
crucial for balancing RESs with grid stability. Additionally, optimizing Thermal Energy
Grid Storage (TEGS) helps balance solar energy generation and reduce decarbonization
costs, contributing to sustainability goals. These diverse applications collectively contribute
to enhancing decision-making processes for decarbonization targets, integration of RESs,
cost savings, and maintaining a reliable power supply. They represent a holistic approach
to power system operations, where improvements in one area, such as load forecasting,
can have cascading benefits across the entire system. These studies point towards a future
where integrated intelligent forecasting and optimization techniques are fundamental to
addressing the complex challenges of modern power systems. Future research may focus
on exploring new areas where these integrated approaches can be applied to address
emerging challenges in the power sector.
In recent years, since incorporating physics-informed methods is a growing research
direction, the application of physics-informed methods to problems that combine forecast-
ing and optimization in electrical power systems has gained significant attention. These
approaches offer a promising solution to enhance the accuracy and reliability of decision-
making processes in complex power system operations. Physics-informed methods in
this context involve the integration of fundamental physical laws and engineering prin-
ciples into ML models and optimization algorithms. By doing so, they create a synergy
between data-driven forecasting and physics-based optimization, leading to more robust
and realistic solutions [142]. One key application area is in the domain of renewable energy
integration and grid management. For instance, physics-informed neural networks (PINNs)
have been employed to forecast renewable energy generation while simultaneously op-
timizing power dispatch. These models incorporate physical constraints such as power
flow equations and generation limits directly into the neural network architecture. This
allows for more accurate predictions of renewable energy output while ensuring that the
optimized dispatch solutions remain feasible within the physical constraints of the power
system [143]. Another important application is in demand response and load management.
Physics-informed methods have been used to develop integrated forecasting and optimiza-
tion frameworks that predict load profiles while optimizing demand response strategies.
These approaches typically combine traditional time series forecasting techniques with
optimization algorithms, constrained by physical models of building energy consump-
tion and grid dynamics. The resulting solutions not only provide accurate load forecasts
but also optimal demand response strategies that respect the physical limitations of both
consumer devices and the power grid [144]. The advantages of using physics-informed
methods for integrated forecasting and optimization are manifold. They provide more
realistic and implementable solutions by ensuring that forecasts and optimization results
adhere to physical laws. They also tend to generalize better to unseen scenarios, as the
incorporated physical knowledge provides a form of regularization. Additionally, these
methods often require less data for training compared to purely data-driven approaches, as
they leverage domain knowledge to supplement the learning process. However, challenges
remain in the widespread adoption of these methods. The integration of complex phys-
ical models can increase computational complexity, and there is often a need to balance
the trade-off between model accuracy and computational efficiency. Moreover, as power
systems become increasingly complex with the integration of diverse energy resources and
smart grid technologies, developing accurate and comprehensive physics-informed models
becomes more challenging. Despite these challenges, the potential of physics-informed
methods for integrated forecasting and optimization in power systems is significant. As
research in this field progresses, we can expect to see more sophisticated algorithms that
can handle increasingly complex power system scenarios, potentially revolutionizing how
we approach planning and operation in modern electrical grids.
Energies 2024, 17, 5385 26 of 35

8.3. Challenges and Solutions of the Integration

The integration of intelligent forecasting and optimization in electrical power systems,
while promising, faces several challenges. Recent research has identified these challenges
and proposed innovative solutions, paving the way for more efficient and effective power
system operations. One of the primary challenges in this field is the computational burden
associated with forecasting, particularly in STLF. Candela Esclapez et al. highlighted this
issue in the context of European power systems, where prediction systems need to operate
on a quarter-hour basis. This frequent updating requirement significantly increases the
computational load, potentially leading to delays in decision-making processes. To address
this challenge, Candela Esclapez et al. proposed an innovative algorithm that optimizes
the use of previously calculated forecasts. Their solution involves prioritizing the usage
of previous forecasts to save computational resources and implementing an algorithm to
identify which forecasts are more accurate. The researchers suggest that this algorithm
could be applied to other forecasting systems to speed up computation times and reduce
forecasting errors, offering a scalable solution to the challenge of computational efficiency
in power system forecasting [84].
Another significant challenge in the field is the disconnect between model devel-
opment and business value in forecasting tasks. Gürses-Tran and Monti observed that
forecasters predominantly evaluate model quality using residuals and error statistics during
development, often neglecting the costs or rewards associated with business applications.
This oversight can lead to models that perform well in theoretical scenarios but fail to
deliver tangible business value in real-world applications. To bridge this gap, the study
proposed a ML operations framework for power systems. Their approach involves analyz-
ing the wholesale power market to translate forecast quality into business value and using
ProLoaF, a data-driven forecasting tool, to address near-real-time capacity procurement
tasks that are challenging for traditional model-driven approaches. The results showed
that ProLoaF significantly outperformed these models in terms of both RMSE and procure-
ment cost reduction. This demonstrates the potential of a ML operations framework to
create a more seamless integration between model development, deployment, and business
outcomes in power system operations [140]. The challenges of computational burden and
business value alignment are interconnected. As power systems become more complex and
data-intensive, the need for computationally efficient models that deliver real-world value
becomes increasingly critical. The solutions proposed in [84,140] address these challenges
from different angles, but both contribute to the overall goal of creating more effective and
efficient power system operations.
Moreover, as power systems continue to evolve with the integration of RESs and
smart grid technologies, new challenges are likely to emerge. Future research may need to
address issues such as the following:
• Handling increased uncertainty and variability in power generation due to RESs.
• Integrating forecasting and optimization across different time scales, from real-time
operations to long-term planning.
• Developing models that can adapt to changing system conditions and learn from new
data in real time.

9. Discussion and Future Direction

The landscape of intelligent forecasting and optimization in electrical power sys-
tems is undergoing a rapid and profound transformation, primarily driven by remarkable
advancements in AI and ML. As modern power grids become increasingly complex and dy-
namic, particularly with the widespread integration of RESs, the demand for sophisticated
forecasting and optimization techniques has reached unprecedented levels.
In the realm of intelligent forecasting, researchers are focusing on integrating diverse
data sources for more accurate predictions and enhancing real-time predictive analytics for
quicker responses to changing conditions. Improving the flexibility of forecasting models
is essential to manage the complexity and variability of modern power systems. The rise of
Energies 2024, 17, 5385 27 of 35

RESs introduces unique challenges, requiring innovative methods to handle uncertainties

from RESs and demand fluctuations. Developing robust algorithms to manage these un-
certainties is crucial for reliable power system operations, necessitating adaptive models
with probabilistic forecasts. The advent of big data analytics offers immense potential
for enhancing power system forecasting and optimization. Leveraging large datasets can
enhance prediction accuracy and decision-making, with advanced ML techniques provid-
ing valuable insights for better load forecasting, fault detection, and resource allocation.
However, real-time data processing demands sophisticated computational infrastructure
and algorithms.
Turning our attention to optimization techniques, we encounter a diverse array of
approaches, each with unique strengths and applications. Classical optimization algorithms,
applicable to both single-objective and multi-objective problems, remain foundational in
power system optimization. These established methods provide robust frameworks for
balancing objectives such as cost reduction, environmental impact mitigation, and system
efficiency enhancement. This versatility makes them particularly effective in addressing
the complexities of modern power systems, especially in integrating renewable energy
and promoting sustainable development. Building on this foundation, heuristic and
metaheuristic methods have emerged as powerful tools for single-objective and multi-
objective optimization. These innovative approaches consistently demonstrate superior
performance in solution quality and computational efficiency, particularly for the complex,
non-linear problems characteristic of contemporary power grids. Their value is especially
evident in scenarios where traditional optimization methods struggle due to problem
complexity or computational demands. Taking this evolution further, hybrid optimization
methods offer a versatile and potent approach to the multifaceted challenges in modern
power system design and operation. By combining different optimization techniques,
these methods effectively address a wide range of issues, from transformer optimization to
reactive power planning and distributed resource allocation. Their superior performance in
solution quality, computational efficiency, and adaptability makes them invaluable across
various domains, including integrated energy systems, domestic energy management, and
MG optimization.
The integration of intelligent forecasting and optimization in power system operations
marks a significant advancement, enhancing STLF accuracy and overall decision-making
in the electric power sector. Theoretical frameworks supporting this integration are diverse
and evolving, including probabilistic approaches for handling uncertainties, ML operations
frameworks aligned with business objectives, and computational efficiency techniques
to meet growing processing demands. These frameworks collectively enable more effec-
tive and adaptable power system management. Emerging technologies like the IoT and
blockchain have the potential to revolutionize power systems. IoT devices provide real-time
data, improving situational awareness and operational efficiency, which benefits demand
response programs, predictive maintenance, and system resilience. Blockchain technology
ensures secure and transparent transactions within the power grid, facilitating peer-to-peer
energy trading and enhancing cybersecurity. However, these advancements necessitate
addressing interoperability issues and ensuring data privacy and security. Establishing
common standards and protocols is crucial for seamless communication and data exchange,
while robust encryption methods and stringent data governance frameworks are essential
to protect sensitive information and critical infrastructure.
The future of intelligent forecasting and optimization in electrical power systems is
poised for significant advancements, driven by the rapid evolution of AI, ML, and data ana-
lytics technologies. As power grids become increasingly complex and dynamic, particularly
with the widespread integration of RESs, the demand for more sophisticated forecasting
and optimization techniques continues to grow. One of the primary areas of focus for
future research will be the development of more adaptive and robust forecasting models.
These models will need to handle the increasing variability and uncertainty introduced
by RESs such as wind and solar power. Researchers are likely to explore advanced DL
Energies 2024, 17, 5385 28 of 35

architectures, including attention mechanisms and transformer models, which have shown
promise in capturing long-term dependencies and complex patterns in time series data.
Additionally, the integration of physics-informed neural networks may help bridge the
gap between data-driven approaches and domain-specific knowledge, potentially lead-
ing to more accurate and interpretable forecasts. The field of optimization is expected to
see advancements in multi-objective optimization techniques, as power system operators
grapple with balancing multiple, often conflicting goals such as cost minimization, emis-
sions reduction, and reliability maximization. Future research may focus on developing
more efficient algorithms for solving large-scale, non-convex optimization problems in
real time, potentially leveraging quantum computing technologies as they mature. Hybrid
optimization approaches, combining classical methods with metaheuristics and ML, are
likely to gain prominence, offering improved solution quality and computational efficiency.
The integration of forecasting and optimization will likely become more seamless, with
researchers developing holistic frameworks that can handle end-to-end decision-making
processes in power systems. This may include the development of RL agents capable of
making complex decisions in highly dynamic environments, considering both short-term
operational constraints and long-term strategic objectives. Additionally, the incorporation
of explainable AI techniques will be crucial to build trust and transparency in these decision-
making systems, especially in critical infrastructure like power grids. As the volume and
variety of data available to power system operators continue to grow, future research will
need to address challenges related to big data analytics and real-time processing. This
may involve the development of distributed and federated learning approaches that can
leverage decentralized data sources while maintaining data privacy and security. Edge
computing and IoT technologies are likely to play a significant role in enabling real-time
data processing and decision-making at the grid edge. The rise of prosumers and peer-to-
peer energy trading will necessitate the development of new forecasting and optimization
techniques that can handle decentralized and highly dynamic market structures. This may
include the use of blockchain technology for secure and transparent energy transactions, as
well as the development of game-theoretic approaches to model and optimize interactions
between multiple autonomous agents in the energy market. Cybersecurity will become
an increasingly important consideration in the development of intelligent forecasting and
optimization systems. Future research will need to focus on developing robust and resilient
algorithms that can withstand potential cyber-attacks and maintain the integrity of power
system operations. This may involve the integration of adversarial ML techniques to
improve the robustness of forecasting models and the development of secure multi-party
computation methods for distributed optimization. As climate change continues to impact
weather patterns and energy demand, future forecasting models will need to adapt to
these changing conditions. This may involve the development of transfer learning tech-
niques that can quickly adapt pre-trained models to new environments or the integration
of climate models into long-term energy forecasting systems. The human-AI interaction in
power system operations is another area ripe for future research. As intelligent systems
become more prevalent, there will be a need to develop intuitive interfaces and decision-
support tools that can effectively communicate complex information to human operators
and policymakers. This may involve advancements in data visualization techniques and
the development of collaborative AI systems that can work seamlessly alongside human
experts. Lastly, as the energy sector moves towards greater electrification of transportation
and heating, future forecasting and optimization techniques will need to account for these
new sources of demand and potential flexibility. This may involve the development of inte-
grated models that can simultaneously optimize across multiple energy vectors (electricity,
heat, and transportation) and time scales. In summary, the future of intelligent forecasting
and optimization in electrical power systems is bright, with numerous opportunities for
groundbreaking research and innovation. As these technologies continue to evolve, they
will play a crucial role in enabling the transition to a more sustainable, reliable, and efficient
energy future. However, realizing this potential will require interdisciplinary collaboration
Energies 2024, 17, 5385 29 of 35

between researchers in power systems, computer science, data analytics, and other related
fields, as well as close cooperation between academia, industry, and policymakers.

10. Conclusions
In the dynamic world of electrical engineering, accurate forecasting and optimization
are the backbones that ensure efficient and reliable power delivery. Intelligent forecasting
and optimization have been highlighted in this review as being critical to present-day elec-
trical power systems. However, due to new configurations introduced by the integration
of RESs and smart technologies, these complex techniques have become vital in manag-
ing intricate power grids. Forecasting methodologies, ranging from traditional statistical
approaches to sophisticated ML models, have significantly enhanced the forecast for load,
renewable generation, electricity price, and demand response. Meanwhile, optimization
algorithms have evolved from classical to new heuristic, meta-heuristic, and hybrid ones
that truly fit the highly complex and non-linear nature of contemporary power systems.
Moreover, the integration of forecasting and optimization has led to the development of
emerging structures that support systems’ stability and efficiency. However, some chal-
lenges still exist such as increased variability of renewable sources, real-time processing of
big data, and integration of multiple goals. Looking ahead, the field is poised for further
advancements, potentially leveraging emerging technologies like quantum computing and
RL. As the energy sector progresses towards sustainability and decentralization, these
intelligent techniques will again play primary roles in achieving optimal, reliable, and
green power systems at distributed levels. Future research should focus on developing
more adaptive and computationally efficient methods to address the evolving complex-
ities of modern power grids, ultimately contributing to a more sustainable and resilient
energy future.

Author Contributions: S.M.S.: Data curation, Writing—original draft, Writing—review & editing.
T.N.: Project administration, Supervision, Validation. M.H.T.: Investigation, Writing—original draft,
Writing—review & editing. H.A.A.: Formal analysis, Writing—original draft, Writing—review
& editing. E.S.: Funding acquisition, Project administration, Supervision. G.J.: Formal analysis,
Methodology, Validation. M.P.: Formal analysis, Methodology, Conceptualization. All authors have
read and agreed to the published version of the manuscript.
Funding: This research received no external funding.
Conflicts of Interest: The authors declare no conflicts of interest.

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