Forecasting sector-wise electricity consumption for India using various regression models

Electricity is an important and one of the most domi�nant energy sources used in the world. It governs a major share in the Indian as well as world economy. Thus, forecasting its consumption can be useful in bet�ter planning of its future production and supply. In the present study, electricity consumption in seven dif�ferent sectors, namely industry, domestic, agriculture, commercial, traction and railways, others along with total electricity consumed is forecasted using regres�sion analysis. The study uses four regression model�ling approaches to forecast electricity consumption by sectors in India. These are linear, logarithmic, power and exponential regression models. The accuracy of the models is tested using R2 (coefficient of determina�tion) and MAPE (mean absolute percentage error) values. The model having the highest R2 and lowest MAPE value is selected for better accuracy results. The result/forecast is then compared with the availa�ble data published by the Central Electricity Authority, Government of India