Forecasting Demand for Electricity: Some Methodological Issues and an Analysis

Pillai N., Vijayamohanan (2008): Forecasting Demand for Electricity: Some Methodological Issues and an Analysis.

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.

• Item Type: MPRA Paper
• Language: English
• Keywords: Electricity demand, Forecasting, Kerala, Time series analysis
• Subjects: C - Mathematical and Quantitative Methods > C3 - Multiple or Simultaneous Equation Models ; Multiple Variables > C32 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes ; State Space Models; L - Industrial Organization > L9 - Industry Studies: Transportation and Utilities > L94 - Electric Utilities

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