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Modeling short-run electricity demand with long-term growth rates and consumer price elasticity in commercial and industrial sectors
- Source :
-
Energy . Oct2012, Vol. 46 Issue 1, p533-540. 8p. - Publication Year :
- 2012
-
Abstract
- Abstract: This paper specifies and estimates state-level models of short- and long-term electricity demand in the United States. The short-term model predicts hourly load based on weather and calendar inputs. The long-term model estimates interannual demand, and includes population, prices, and gross state product as predictors. These models are combined to incorporate the short- and long-term trends in electricity consumption when generating forecasts of diurnal patterns into the future. Finally, the authors investigate the effects of short-run price elasticities of demand. The short-term model is shown to be within 95% accuracy of actual levels in out-of-sample tests. [Copyright &y& Elsevier]
Details
- Language :
- English
- ISSN :
- 03605442
- Volume :
- 46
- Issue :
- 1
- Database :
- Academic Search Index
- Journal :
- Energy
- Publication Type :
- Academic Journal
- Accession number :
- 82198891
- Full Text :
- https://doi.org/10.1016/j.energy.2012.07.059