IDEAS home Printed from https://ideas.repec.org/a/rbs/ijfbss/v5y2016i6p15-23.html
   My bibliography  Save this article

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

Author

Listed:
  • Mehmet Fatih Bayramoglu

    (Bulent Ecevit University, Department of Business Administration, Zonguldak)

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.

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:p:15-23
    as

    Download full text from publisher

    File URL: https://www.ssbfnet.com/ojs/index.php/ijfbs/article/view/334/304
    Download Restriction: no
    File URL: https://www.ssbfnet.com/ojs/index.php/ijfbs/article/view/334
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ming Meng & Dongxiao Niu & Wei Sun, 2011. "Forecasting Monthly Electric Energy Consumption Using Feature Extraction," Energies, MDPI, vol. 4(10), pages 1-13, September.
    2. Hamidreza Mostafaei & Shaghayegh Kordnoori, 2012. "Hybrid Grey Forecasting Model for Iran s Energy Consumption and Supply," International Journal of Energy Economics and Policy, Econjournals, vol. 2(3), pages 97-102.
    3. Bianco, Vincenzo & Manca, Oronzio & Nardini, Sergio & Minea, Alina A., 2010. "Analysis and forecasting of nonresidential electricity consumption in Romania," Applied Energy, Elsevier, vol. 87(11), pages 3584-3590, November.
    4. 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.
    5. Mr. Clinton R. Shiells & Mr. John R Dodsworth & Mr. Paul Henri Mathieu, 2002. "Cross-Border Issues in Energy Trade in the CIS Countries," IMF Policy Discussion Papers 2002/013, International Monetary Fund.
    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. Karadede, Yusuf & Ozdemir, Gultekin & Aydemir, Erdal, 2017. "Breeder hybrid algorithm approach for natural gas demand forecasting model," Energy, Elsevier, vol. 141(C), pages 1269-1284.
    2. Deb, Chirag & Zhang, Fan & Yang, Junjing & Lee, Siew Eang & Shah, Kwok Wei, 2017. "A review on time series forecasting techniques for building energy consumption," Renewable and Sustainable Energy Reviews, Elsevier, vol. 74(C), pages 902-924.
    3. Tsai, Bi-Huei & Chang, Chih-Jen & Chang, Chun-Hsien, 2016. "Elucidating the consumption and CO2 emissions of fossil fuels and low-carbon energy in the United States using Lotka–Volterra models," Energy, Elsevier, vol. 100(C), pages 416-424.
    4. A. Azadeh & M. Saberi & A. Gitiforouz, 2013. "An integrated fuzzy mathematical model and principal component analysis algorithm for forecasting uncertain trends of electricity consumption," Quality & Quantity: International Journal of Methodology, Springer, vol. 47(4), pages 2163-2176, June.
    5. 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).
    6. Zhang, Chi & Zhou, Kaile & Yang, Shanlin & Shao, Zhen, 2017. "On electricity consumption and economic growth in China," Renewable and Sustainable Energy Reviews, Elsevier, vol. 76(C), pages 353-368.
    7. Libman, Alexander, 2005. "Взаимодействие Государственных И Частных Структур В Интеграционных Группировах: Теоретические Подходы И Опыт Снг [Interaction of Public and Private Actors in Regional Integration Groups - Theoretic," MPRA Paper 17044, University Library of Munich, Germany.
    8. Radhi, Hassan & Sharples, Stephen, 2013. "Quantifying the domestic electricity consumption for air-conditioning due to urban heat islands in hot arid regions," Applied Energy, Elsevier, vol. 112(C), pages 371-380.
    9. Mergani A. Khairalla & Xu Ning & Nashat T. AL-Jallad & Musaab O. El-Faroug, 2018. "Short-Term Forecasting for Energy Consumption through Stacking Heterogeneous Ensemble Learning Model," Energies, MDPI, vol. 11(6), pages 1-21, June.
    10. Sadri, A. & Ardehali, M.M. & Amirnekooei, K., 2014. "General procedure for long-term energy-environmental planning for transportation sector of developing countries with limited data based on LEAP (long-range energy alternative planning) and EnergyPLAN," Energy, Elsevier, vol. 77(C), pages 831-843.
    11. Mr. Clinton R. Shiells, 2002. "Imperfect Competition and the Design of VAT Regimes: The Case of Energy Trade Between Russia and Ukraine," IMF Working Papers 2002/235, International Monetary Fund.
    12. Bilgili, Mehmet & Pinar, Engin, 2023. "Gross electricity consumption forecasting using LSTM and SARIMA approaches: A case study of Türkiye," Energy, Elsevier, vol. 284(C).
    13. Peñasco, Cristina & del Río, Pablo & Romero-Jordán, Desiderio, 2017. "Gas and electricity demand in Spanish manufacturing industries: An analysis using homogeneous and heterogeneous estimators," Utilities Policy, Elsevier, vol. 45(C), pages 45-60.
    14. Nafidi, A. & Gutiérrez, R. & Gutiérrez-Sánchez, R. & Ramos-Ábalos, E. & El Hachimi, S., 2016. "Modelling and predicting electricity consumption in Spain using the stochastic Gamma diffusion process with exogenous factors," Energy, Elsevier, vol. 113(C), pages 309-318.
    15. Changrui Deng & Xiaoyuan Zhang & Yanmei Huang & Yukun Bao, 2021. "Equipping Seasonal Exponential Smoothing Models with Particle Swarm Optimization Algorithm for Electricity Consumption Forecasting," Energies, MDPI, vol. 14(13), pages 1-14, July.
    16. Tuncay Özcan, 2017. "Application of Seasonal and Multivariable Grey Prediction Models for Short-Term Load Forecasting," Alphanumeric Journal, Bahadir Fatih Yildirim, vol. 5(2), pages 329-338, December.
    17. Shalini Shekhawat & Akash Saxena & Ramadan A. Zeineldin & Ali Wagdy Mohamed, 2023. "Prediction of Infectious Disease to Reduce the Computation Stress on Medical and Health Care Facilitators," Mathematics, MDPI, vol. 11(2), pages 1-18, January.
    18. Roman V. Klyuev & Irbek D. Morgoev & Angelika D. Morgoeva & Oksana A. Gavrina & Nikita V. Martyushev & Egor A. Efremenkov & Qi Mengxu, 2022. "Methods of Forecasting Electric Energy Consumption: A Literature Review," Energies, MDPI, vol. 15(23), pages 1-33, November.
    19. Tang, Ling & Yu, Lean & Wang, Shuai & Li, Jianping & Wang, Shouyang, 2012. "A novel hybrid ensemble learning paradigm for nuclear energy consumption forecasting," Applied Energy, Elsevier, vol. 93(C), pages 432-443.
    20. Gangjun Gong & Xiaonan An & Nawaraj Kumar Mahato & Shuyan Sun & Si Chen & Yafeng Wen, 2019. "Research on Short-Term Load Prediction Based on Seq2seq Model," Energies, MDPI, vol. 12(16), pages 1-18, August.

    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:rbs:ijfbss:v:5:y:2016:i:6:p:15-23. 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: Hasan Dincer (email available below). General contact details of provider: https://edirc.repec.org/data/ssbffea.html .

    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.