TY - JOUR
AU - Marin, Jorge Barrientos
AU - Marulanda, Laura Marquez
AU - Duque, Fernando Villada
PY - 2023/01/22
Y2 - 2023/03/26
TI - Analyzing Electricity Demand in Colombia: A Functional Time Series Approach
JF - International Journal of Energy Economics and Policy
JA - IJEEP
VL - 13
IS - 1
SE - Articles
DO - 10.32479/ijeep.13728
UR - https://econjournals.com/index.php/ijeep/article/view/13728
SP - 75-84
AB - <p>In this work we are interested in analyzing the energy demand in Colombia for a short-term horizon, from a functional data approach. First, we make an exhaustive review of the literature on functional spaces as a potential source of statistical information. It is, of course, a theoretical reinterpretation since in practice the data are elements of a finite-dimensional space; however, very high-frequency data, properly treated, can be viewed as elements of a space of continuous functions. Second, we put such a reinterpretation into practice, by performing a spline-type smoothing of commercial energy demand, based on hourly-daily data. As a result, a function or smooth curve is obtained for each day. Finally, we expose the usefulness of this new approach for statistical analysis, modeling, and projection (or forecasting) of stochastic processes that generate high-frequency random variables.</p>
ER -