I. Introduction
A smart grid is an electricity network in which electricity flow is two-way and it involves smart metering, smart appliances, renewable energy resources and energy efficient resources. It can also be defined as an intelligent grid that optimally delivers energy from source point to consumer point. It involves the exchange of information between a utility and its customers. It is a highly interconnected and automated network for making the grid more efficient, reliable, secure and greener. In order for grids to operate in a more economical and reliable way, demand forecasting is important, as it can estimate the amount of power that is likely to be consumed by the load. Thus enabling the electric companies to analyze contingency, reliability, load flows and field scheduling [1].