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

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. 

Keywords: {'name': 'Energy Demand'}, {'name': 'Electricity Energy'}, {'name': 'Derivative Markets'}, {'name': 'Time Series Analysis'}, {'name': 'Rolling Model'}

Authors & affiliations

Mehmet Fatih Bayramoglu
Affiliation not supplied

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