Electrical energy and power demand forecasting at eac

Abstract

This project is mainly based on the understanding the need for forecasting energy and power at Electricity Authority of Cyprus. Forecasting of energy and power is mainly centred on the economic growth and population growth of a country. With these two forecasting is done depending on the historical data of energy consumed before. This projects looks at the forecasting methodologies available at the Authority of Cyprus and try to employ each of these methodologies to forecast for future and to understand how each works and which is best to use for forecasting. With the use of these forecasting methods it will be seen that they do give different results due to their different methods of forecasting. This project will provide need for forecasting and it is hoped to provide useful reference to EAC.