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Future Electricity Demand of the Emerging European Countries and the CIS Countries

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  • Mehmet Fatih Bayramoglu

Abstract

Nowadays, one of the leading factors used in the evaluation of a country’s economic development is energy consumption. Because of economic growth, demand for energy is also increasing. In this study, the emerging European countries’ (the Czech Republic, Poland, Romania, Turkey) and the CIS countries’ (Kazakhstan, Russia, Ukraine, Uzbekistan) electricity consumption has been forecasted for five years period (2015-2019). In the study, GM(1,1) Rolling Model, which is developed in the framework of Grey System Theory is used as a mathematical model for real-time forecasting. The results of the study show that there will not be a significant change in electricity demand in this two area during the 2015-2109 period.Â

Suggested Citation

  • Mehmet Fatih Bayramoglu, 2016. "Future Electricity Demand of the Emerging European Countries and the CIS Countries," International Journal of Finance & Banking Studies, Center for the Strategic Studies in Business and Finance, vol. 5(6), pages 15-23, October.
    • Handle: RePEc:rbs:ijfbss:v:5:y:2016:i:6:id:334
    DOI: 10.20525/ijfbs.v5i6.618
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    References listed on IDEAS

    as
    1. Ping Jiang & Qingping Zhou & Haiyan Jiang & Yao Dong, 2014. "An Optimized Forecasting Approach Based on Grey Theory and Cuckoo Search Algorithm: A Case Study for Electricity Consumption in New South Wales," Abstract and Applied Analysis, John Wiley & Sons, vol. 2014(1).
    2. Ping Jiang & Qingping Zhou & Haiyan Jiang & Yao Dong, 2014. "An Optimized Forecasting Approach Based on Grey Theory and Cuckoo Search Algorithm: A Case Study for Electricity Consumption in New South Wales," Abstract and Applied Analysis, Hindawi, vol. 2014, pages 1-13, June.
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