IDEAS home Printed from https://ideas.repec.org/a/gam/jeners/v4y2011i8p1246-1257d13649.html
   My bibliography  Save this article

Forecasting Electricity Demand in Thailand with an Artificial Neural Network Approach

Author

Listed:
  • Karin Kandananond

    (Rajabhat University Valaya-Alongkorn, Paholyothin Rd., Klong-Luang District, Prathumthani 13180, Thailand)

Abstract

Demand planning for electricity consumption is a key success factor for the development of any countries. However, this can only be achieved if the demand is forecasted accurately. In this research, different forecasting methods—autoregressive integrated moving average (ARIMA), artificial neural network (ANN) and multiple linear regression (MLR)—were utilized to formulate prediction models of the electricity demand in Thailand. The objective was to compare the performance of these three approaches and the empirical data used in this study was the historical data regarding the electricity demand (population, gross domestic product: GDP, stock index, revenue from exporting industrial products and electricity consumption) in Thailand from 1986 to 2010. The results showed that the ANN model reduced the mean absolute percentage error (MAPE) to 0.996%, while those of ARIMA and MLR were 2.80981 and 3.2604527%, respectively. Based on these error measures, the results indicated that the ANN approach outperformed the ARIMA and MLR methods in this scenario. However, the paired test indicated that there was no significant difference among these methods at α = 0.05. According to the principle of parsimony, the ARIMA and MLR models might be preferable to the ANN one because of their simple structure and competitive performance

Suggested Citation

  • Karin Kandananond, 2011. "Forecasting Electricity Demand in Thailand with an Artificial Neural Network Approach," Energies, MDPI, vol. 4(8), pages 1-12, August.
    • Handle: RePEc:gam:jeners:v:4:y:2011:i:8:p:1246-1257:d:13649
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1996-1073/4/8/1246/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1996-1073/4/8/1246/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ediger, Volkan S. & Akar, Sertac, 2007. "ARIMA forecasting of primary energy demand by fuel in Turkey," Energy Policy, Elsevier, vol. 35(3), pages 1701-1708, March.
    2. Mohamed, Zaid & Bodger, Pat, 2005. "Forecasting electricity consumption in New Zealand using economic and demographic variables," Energy, Elsevier, vol. 30(10), pages 1833-1843.
    3. Ekonomou, L., 2010. "Greek long-term energy consumption prediction using artificial neural networks," Energy, Elsevier, vol. 35(2), pages 512-517.
    4. Pappas, S.Sp. & Ekonomou, L. & Karamousantas, D.Ch. & Chatzarakis, G.E. & Katsikas, S.K. & Liatsis, P., 2008. "Electricity demand loads modeling using AutoRegressive Moving Average (ARMA) models," Energy, Elsevier, vol. 33(9), pages 1353-1360.
    5. Abdel-Aal, R.E. & Al-Garni, A.Z., 1997. "Forecasting monthly electric energy consumption in eastern Saudi Arabia using univariate time-series analysis," Energy, Elsevier, vol. 22(11), pages 1059-1069.
    6. Azadeh, A. & Ghaderi, S.F. & Sohrabkhani, S., 2008. "A simulated-based neural network algorithm for forecasting electrical energy consumption in Iran," Energy Policy, Elsevier, vol. 36(7), pages 2637-2644, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kankal, Murat & AkpInar, Adem & Kömürcü, Murat Ihsan & Özsahin, Talat Sükrü, 2011. "Modeling and forecasting of Turkey's energy consumption using socio-economic and demographic variables," Applied Energy, Elsevier, vol. 88(5), pages 1927-1939, May.
    2. Debnath, Kumar Biswajit & Mourshed, Monjur, 2018. "Forecasting methods in energy planning models," Renewable and Sustainable Energy Reviews, Elsevier, vol. 88(C), pages 297-325.
    3. Wang, Shuai & Yu, Lean & Tang, Ling & Wang, Shouyang, 2011. "A novel seasonal decomposition based least squares support vector regression ensemble learning approach for hydropower consumption forecasting in China," Energy, Elsevier, vol. 36(11), pages 6542-6554.
    4. Suganthi, L. & Samuel, Anand A., 2012. "Energy models for demand forecasting—A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 16(2), pages 1223-1240.
    5. Pin Li & Jinsuo Zhang, 2019. "Is China’s Energy Supply Sustainable? New Research Model Based on the Exponential Smoothing and GM(1,1) Methods," Energies, MDPI, vol. 12(2), pages 1-30, January.
    6. Meng, Ming & Niu, Dongxiao, 2011. "Modeling CO2 emissions from fossil fuel combustion using the logistic equation," Energy, Elsevier, vol. 36(5), pages 3355-3359.
    7. Gholami, M. & Barbaresi, A. & Torreggiani, D. & Tassinari, P., 2020. "Upscaling of spatial energy planning, phases, methods, and techniques: A systematic review through meta-analysis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 132(C).
    8. Assareh, E. & Behrang, M.A. & Assari, M.R. & Ghanbarzadeh, A., 2010. "Application of PSO (particle swarm optimization) and GA (genetic algorithm) techniques on demand estimation of oil in Iran," Energy, Elsevier, vol. 35(12), pages 5223-5229.
    9. Zhang, Wenbin & Tian, Lixin & Wang, Minggang & Zhen, Zaili & Fang, Guochang, 2016. "The evolution model of electricity market on the stable development in China and its dynamic analysis," Energy, Elsevier, vol. 114(C), pages 344-359.
    10. Wang, Lin & Hu, Huanling & Ai, Xue-Yi & Liu, Hua, 2018. "Effective electricity energy consumption forecasting using echo state network improved by differential evolution algorithm," Energy, Elsevier, vol. 153(C), pages 801-815.
    11. Ardakani, F.J. & Ardehali, M.M., 2014. "Long-term electrical energy consumption forecasting for developing and developed economies based on different optimized models and historical data types," Energy, Elsevier, vol. 65(C), pages 452-461.
    12. Sen, Parag & Roy, Mousumi & Pal, Parimal, 2016. "Application of ARIMA for forecasting energy consumption and GHG emission: A case study of an Indian pig iron manufacturing organization," Energy, Elsevier, vol. 116(P1), pages 1031-1038.
    13. Pao, Hsiao-Tien, 2009. "Forecast of electricity consumption and economic growth in Taiwan by state space modeling," Energy, Elsevier, vol. 34(11), pages 1779-1791.
    14. Sun-Youn Shin & Han-Gyun Woo, 2022. "Energy Consumption Forecasting in Korea Using Machine Learning Algorithms," Energies, MDPI, vol. 15(13), pages 1-20, July.
    15. Zhang, Wen Yu & Hong, Wei-Chiang & Dong, Yucheng & Tsai, Gary & Sung, Jing-Tian & Fan, Guo-feng, 2012. "Application of SVR with chaotic GASA algorithm in cyclic electric load forecasting," Energy, Elsevier, vol. 45(1), pages 850-858.
    16. Attia, Shady & Evrard, Arnaud & Gratia, Elisabeth, 2012. "Development of benchmark models for the Egyptian residential buildings sector," Applied Energy, Elsevier, vol. 94(C), pages 270-284.
    17. Hong, Wei-Chiang, 2011. "Electric load forecasting by seasonal recurrent SVR (support vector regression) with chaotic artificial bee colony algorithm," Energy, Elsevier, vol. 36(9), pages 5568-5578.
    18. Đozić, Damir J. & Gvozdenac Urošević, Branka D., 2019. "Application of artificial neural networks for testing long-term energy policy targets," Energy, Elsevier, vol. 174(C), pages 488-496.
    19. Pao, H.T., 2009. "Forecasting energy consumption in Taiwan using hybrid nonlinear models," Energy, Elsevier, vol. 34(10), pages 1438-1446.
    20. Yu, Shiwei & Wei, Yi-Ming & Wang, Ke, 2012. "A PSO–GA optimal model to estimate primary energy demand of China," Energy Policy, Elsevier, vol. 42(C), pages 329-340.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jeners:v:4:y:2011:i:8:p:1246-1257:d:13649. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.