Forecasting Electrical Energy Consumptions

K. Stoilova, T. Stoilov, G. Angelova, R. Petrov, I. Klisurov

Abstract: Electrical energy management of an organization is related to the appropriate planning of required payments and allocation of resources accordingly. It is important for good management to account for past costs and to forecast future costs. An intelligent solution for the mathematical formalization of this process is presented in the study. The research object is the Wildlife Rehabilitation and Breeding Centre “Green Balkans” in Bulgaria, in which the correct allocation of resources is significant due to the minimal financial support. Mathematical models have been developed for forecasting electricity consumption based on data for the past three-year period. The applied methodology is based on linear regression analysis. Two mathematical models were synthesized, which were compared and analyzed depending on the length of the historical data interval. The models represent an intelligent solution for the Centre’s electrical energy management.

Keywords: Electrical energy management, Planning resources, Mathematical models, Statistical methods, Auto regression, Forecasting

Pages: 400-408

DOI: 10.37394/232016.2024.19.34

WSEAS Transactions on Power Systems, ISSN / E-ISSN: 1790-5060 / 2224-350X, Volume 19, 2024, Art. #34

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