The dynamic response of the demand is defined as the time-domain real and reactive power response to a voltage disturbance, and it represents the dynamic load characteristics. This thesis develops a methodology for probabilistic estimation and prediction of dynamic responses of the demand at bulk supply points. The main outcome of the research is being able to predict the contribution of different categories of loads to the total demand mix and their controllability without conducting detailed customer surveys or collecting smart meter data, and to predict the dynamic response of the demand without performing field tests.The prediction of the contributions of different load categories and their controllability and load characteristics in the near future (e.g., day ahead) plays an important role in system analysis and planning, especially in the short-term dispatch and control. However, the research related to this topic is missing in the publically available literature, and an approach needs to be developed to enable the prediction of the participation of different loads in total load mix, their controllability and the dynamic response of the demand.This research contributes to a number of areas, such as load forecasting, load disaggregation and load modelling. First, two load forecasting methodologies which have not been compared before are compared; and based on the results of comparison and considering the actual requirements in this research, a methodology is selected and used to predict both the real and reactive power. Second, a unique methodology for load disaggregation is developed. This methodology enables the estimation of the contributions of different load categories to the total demand mix and their controllability based on RMS measured voltage and real and reactive power. The confidence level of the estimation is also assessed. The methodology for disaggregation is integrated with the load forecasting tool to enable prediction of load compositions and dynamic responses of the demand. The prediction is validated with data collected from real UK power network. Finally, based on the prediction, an example of load shifting is used to demonstrate that different dynamic responses can be obtained based on the availability and redistribution of controllable devices and that load shifting decisions, i.e., demand side management actions, should be made based not only on the amount of demand to be shifted, but also on predicted responses before and after load shifting.