International Journal of Scientific & Technology Research

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IJSTR >> Volume 9 - Issue 4, April 2020 Edition

International Journal of Scientific & Technology Research  
International Journal of Scientific & Technology Research

Website: http://www.ijstr.org

ISSN 2277-8616

Forecasting Electricity Consumption In Bulgaria By Studying Its Dependence On Socio-Economic And Demographic Variables

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Kostadin Yotov, Emil Hadzhikolev, Stanka Hadzhikoleva



electricity consumption prediction, forecasting electricity consumption, relationship between electricity consumption and socio-economic and demographic factors.



The tendency of continuous increase in electricity consumption cannot continue forever. Many countries are actively conducting policies to reduce electricity consumption and increase energy efficiency. Their efforts are targeted in several directions - renovation of residential and industrial buildings, use of energy-saving appliances in households, optimization of electricity consumption in industry, etc. The application of new technologies and the energy generation from renewable sources have created a mix of factors that have an unpredictable impact on electricity consumption. This greatly complicates the estimation of its dependence on the other factors as well as its long-term prediction. The article presents the results of conducted research on the relationship between electricity consumption in Bulgaria and six socio-economic and demographic factors – GDP, Energy intensity, Population, Annual income, Electricity price for the industry and Electricity price for households. The results presented are part of a larger study to create a comprehensive model for forecasting electricity consumption in Bulgaria.



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