Electricity Consumption Forecasting in Turkey

Abstract

Electrical energy is a type of energy that needs to be transmitted quickly and with high quality. With the development of industry and technology the need for electrical energy is increasing every day. Accurate forecasting of electricity consumption is crucial since electricity cannot be stored. In this study electricity consumption in Turkey has been forecasted for long run using Grey Model and short run using the seasonal ARIMA model. Short term production is important to produce the right amount at the right time to meet exact demand. Also in the short-term seasonal fluctuations in electricity will guide the companies in planning production and capacity. Long-term forecasting will indicate the investment requirement in facilities.