A Feature Engineering Framework for Smart Meter Group Failure Rate Prediction

Smart meters play a significant role in power systems, but their condition assessment faces challenges such as inconsistent evaluation criteria and inaccurate assessment results. This paper proposes feature engineering including feature construction and feature selection for smart meter group failure rate prediction. First, the basic structure and common fault types of smart meters are introduced. Smart meters are grouped by batch and distribution area. Next, 25 condition features are constructed based on failure mechanisms and technical specifications. Then, an evolutionary multi-objective feature selection algorithm combining NSGA-II, Jaccard similarity, and XGBoost is developed, where feature subsets are encoded as binary individuals optimized for three objectives: MSE, 1 − R², and the number of features. The experimental results demonstrate that the proposed method not only reduces the number of features (25→7) but also improves the prediction accuracy (MSE: 0.0049 → 0.0042, R²: 0.6638 → 0.7228) of smart meter group failure rates. Comparative studies with other feature selection methods further confirm the superiority of our approach. The optimized features enhance interpretability and computational efficiency, providing a practical solution for large-scale smart meter condition assessment in power systems.