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Time series that arise on a graph or network arises in many scientific fields. In this paper we discuss a method for modelling and prediction of such time series with potentially complex characteristics. The method is based on the lifting scheme first proposed by Sweldens, a multiscale transformation suitable for irregular data with desirable properties. By repeated application of this algorithm we can transform the original network time series data into a simpler, lower dimensional time series object which is easier to forecast. The technique is illustrated with a data set arising from an energy time series application.