Forecasting is the process of making statements about events whose actual outcomes have not yet been observed. Load forecasting is the projection of electrical load that will be required by a certain geographical area with the use of previous electrical load usage in the said geographical area. Electrical load forecasting has a lot of applications. They include: Energy purchasing and generation, load switching, contract evaluation and infrastructure development. It is a very essential part of an efficient power system planning and operation. This is why it has become a major research area in the field of electrical engineering.