Forecasting Demand for Electricity: Some Methodological Issues and an Analysis

Type Journal Article - MPRA
Title Forecasting Demand for Electricity: Some Methodological Issues and an Analysis
Author(s)
Publication (Day/Month/Year) 2008
Page numbers 1-63
URL http://mpra.ub.uni-muenchen.de/8899/1/DEMAND_FORECASTING_ARIMA.pdf
Abstract
Electricity demand projection is of utmost importance as electricity has become a vital input to the wellbeing of any society, driving the demand for it from an ever-expanding set of diverse needs to grow on an increasing rate, which in turn places increasing demands on scarce resources of capital investment, material means, and man-power. More specifically, the continuing 'energy crisis' has made crucial the need for accurate projection of electricity demand; hence the importance of the forecasting methods. The present paper critically evaluates the electricity demand forecasting methodology and proposes a methodology in the classical time series framework.

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