Electricity Demand Forecasting with Hybrid Statistical and Machine Learning Algorithms: Case Study of Ukraine
Journal: arXiv (Cornell University)
Year: 2023

This article presents a novel hybrid approach using statistics and machine learning to forecast the national demand of electricity. As investment and operation of future energy systems require long-term electricity demand forecasts with hourly resolution, our mathematical model fills a gap in energy forecasting. The proposed methodology was constructed using hourly data from Ukraine's electricity consumption ranging from 2013 to 2020. To this end, we analysed the underlying structure of the hour