Modelling and predicting electricity consumption in Spain using the stochastic Gamma diffusion process with exogenous factors

A. Nafidi, R. Gutiérrez, R. Gutiérrez-Sánchez, E. Ramos-Ábalos and S. El Hachimi

Energy, 2016, vol. 113, issue C, 309-318

Abstract: The aim of this study is to model electric power consumption during a period of economic crisis, characterised by declining gross domestic product. A novel aspect of this study is its use of a Gamma-type diffusion process for short and medium-term forecasting – other techniques that have been used to describe such consumption patterns are not valid in this situation.

Keywords: Gamma diffusion process; Computational statistical inference; Trend function; Exogenous factors; Application to electricity consumption in Spain (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:113:y:2016:i:c:p:309-318

DOI: 10.1016/j.energy.2016.07.002

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