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Forecasting Final Energy Consumption using the Centered Moving Average Method and Time Series Analysis

Author

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  • Janina POPEANGĂ

    (University of Economic Studies, Bucharest, Romania)

  • Ion LUNGU

    (University of Economic Studies, Bucharest, Romania)

Abstract

The forecasting of energy consumption has become one of the major fields of research in recent years. Accurate energy demand forecasting is essential in energy system operations and planning. In this paper, we will describe a method to determine the information that is useful for a good forecasting. Further, we adopt the time series modeling approach to model final energy consumption in Romania using previous data of 2010 to 2013. This method is implemented using stored procedures, developed in Oracle PL/SQL programming language. Finally, the developed model is compared for goodness of fit to the historical data and forecasting accuracy, and results are encouraging, showing that the forecast model is in control and is working correctly.

Suggested Citation

  • Janina POPEANGĂ & Ion LUNGU, 2014. "Forecasting Final Energy Consumption using the Centered Moving Average Method and Time Series Analysis," Database Systems Journal, Academy of Economic Studies - Bucharest, Romania, vol. 5(1), pages 42-50, May.
    • Handle: RePEc:aes:dbjour:v:5:y:2014:i:1:p:42-50
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    Cited by:

    1. Bhandari, Ramchandra, 2022. "Green hydrogen production potential in West Africa – Case of Niger," Renewable Energy, Elsevier, vol. 196(C), pages 800-811.

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