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Forecasting Demand for Electricity: Some Methodological Issues and an Analysis

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  • Pillai N., Vijayamohanan

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.

Suggested Citation

  • Pillai N., Vijayamohanan, 2008. "Forecasting Demand for Electricity: Some Methodological Issues and an Analysis," MPRA Paper 8899, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:8899
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    References listed on IDEAS

    as
    1. N. Vijayamohanan Pillai, 2001. "Electricity demand analysis and forecasting: The tradition is questioned," Centre for Development Studies, Trivendrum Working Papers 312, Centre for Development Studies, Trivendrum, India.
    2. Lester D. Taylor, 1975. "The Demand for Electricity: A Survey," Bell Journal of Economics, The RAND Corporation, vol. 6(1), pages 74-110, Spring.
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    More about this item

    Keywords

    Electricity demand; Forecasting; Kerala; Time series analysis;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities

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