Analysis of Energy Consumption in Colombia Using the Holt Method

Authors

Abstract

Energy production is constantly facing major challenges today, because despite initiatives to promote the insertion of renewable energy, electricity consumption has shown considerable growth in recent years. In order to use an instrument that facilitates forecasts and predictive processes for the design of strategic plans associated with energy management, the application of the Holt Method is proposed using data on electricity demand in Colombia, GDP per capita and industrial value added, making an analysis of the last 10 years, based on figures from the World Bank. The final results predict that energy consumption for the period 2018 - 2020 will be between 66,231 GWk and 66,885 GWk.Keywords: Energy Consumption, Holt Method, Energy Efficiency, Colombia.JEL Classifications: D24; Q43; M31.DOI: https://doi.org/10.32479/ijeep.8221

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Author Biographies

Jheison Contreras-Salinas, Universidad Simón Bolívar

Contreras-Salinas, Jheison. Master in Administrative Engineering. Full time university professor, Simón Bolívar University, Faculty of Engineering, Barranquilla, Colombia.

Fernando Lopez, Universidad Autónoma de Nuevo León

Fernando López was born in Cuba on August 22, 1965. He received the B.S.C. degree inmathematics and the M.S.C. degree in computational mathematics from Friedrich SchillerUniversity of Jena, Jena, Germany, both in 1989 and the M.S.C. degree in applied computer scienceand the Ph.D. degree in technical sciences (applied mathematics) from Polytechnic University JoséAntonio Echeverría, Havana, Cuba, in 1995 and 1998, respectively.From 1989 to 2002, he was an Associate Professor of applied mathematics with HavanaPolytechnic University, Havana. He is currently with the Autonomous University of Nuevo León,San Nicolás de los Garza, Mexico. His main research interest is about thedevelopment of methodologies for decision aid and decision support systems.

Carlos A Rondon-Rodriguez, Universidad de La Costa

Carlos Andrés Rondón Rodríguez, Master in Administration, Department of Economic Sciences, Universidad de la Costa.

Hugo g Hernández Palma, Universidad del Atlántico

Hugo G Hernández Palma. He was born in the city of Barranquilla, Colombia in 1983. He received a degree in Industrial Engineering in 2004 at the Free University of Barranquilla, he specialized in pedagogical studies at the Universidad de la Costa and in design and evaluation of projects at Universidad del Norte. After that, it was received as M.Sc. in Management System in 2012 at the Autonomous University of the Caribbean, currently a PhD student in energy engineering at the University of the Coast - CUC and a full-time professor at Universidad del Atlántico.

Juan-David De-la-Hoz-Hernandez, Corporación Universitaria Latinoamericana

De-la-Hoz-Hernández, Juan-David. He was born in Cerete, Córdoba, Colombia in 1994. He received a degree in Industrial Engineering in 2017 at the University of Costa CUC, same place where his diploma in research is developed. Later I made an M.Sc. Own in day trading, swing trading and portfolio management by the Institute of Securities and Trading (IBT) in Seville - Spain. He is currently a professor at the time and in charge of the software management of the Latin American University Corporation - CUL (Barranquilla, Colombia). In addition, he participates actively in the Research Network on Organizational Management and Development.

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Published

2020-10-10

How to Cite

Contreras-Salinas, J., Lopez, F., Rondon-Rodriguez, C. A., Hernández Palma, H. g, & De-la-Hoz-Hernandez, J.-D. (2020). Analysis of Energy Consumption in Colombia Using the Holt Method. International Journal of Energy Economics and Policy, 10(6), 679–683. Retrieved from https://econjournals.com/index.php/ijeep/article/view/8221

Issue

Vol. 10 No. 6 (2020)

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Articles

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