Demand Forecasting and Aggregate Planning in the Electrical Supply Industry

Abstract

A simulation study of the importance of the choice of demand forecasting method in the aggregate capacity planning of the UK electricity supply industry is reported. Using a financial performance measure rather than the conventional measures of accuracy, some of the univariate or extrapolative forecasting methods employed were found to perform surprisingly well over a six year time horizon, suggesting that such methods may merit a greater role in aggregate capacity planning than they appear to be accorded in current practice.

Citation

Price, D.H.R. and Sharp, J.A. (1984), "Demand Forecasting and Aggregate Planning in the Electrical Supply Industry", International Journal of Operations & Production Management, Vol. 4 No. 4, pp. 48-56. https://doi.org/10.1108/eb054725