The Econometric Analysis of Electricity Consumption

Authors

  • N. N. Turayev Deputy Director, "Gidroproekt" Joint Stock Company

Keywords:

Residential electricity supply, household electricity consumption, electricity demand, ARIMA

Abstract

This article presents an ARIMA (AutoRegressive Integrated Moving Average) model for forecasting electricity consumption in the residential sector of the Republic of Uzbekistan, with projections up to 2029. The model-building process is described in detail, with clear steps outlined. Correlations within the data were analyzed using a correlogram, and statistical methods were used to test the stationarity of the data. The accuracy and statistical significance of the model were verified through several tests, confirming the reliability of the forecast. This work proposes an effective approach for forecasting electricity supply in Uzbekistan's residential sector.

References

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3. Korbyleva, D. E. (2018). Using the ARIMA model for planning heat energy consumption. Academy, 10(37), 3-8.

4. Turaev, B. E. (2021). Forecasting the volume of construction work using the ARIMA model (on the example of Surkhandarya region). Scientific Progress, 2(2), 1287-1290.

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Published

2024-11-24

How to Cite

N. N. Turayev. (2024). The Econometric Analysis of Electricity Consumption. EUROPEAN JOURNAL OF BUSINESS STARTUPS AND OPEN SOCIETY, 4(11), 155–163. Retrieved from http://inovatus.es/index.php/ejbsos/article/view/4562

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