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http://dx.doi.org/10.15266/KEREA.2018.27.2.287

A Study on the Estimation of Electricity Demand for Heating and Cooling using Cross Temperature Response Function  

Park, Sung Keun (Korea Institute for Industrial Economics & Trade)
Hong, Soon Dong (Department of Economics, Graduate School of SungKyunKwan University)
Publication Information
Environmental and Resource Economics Review / v.27, no.2, 2018 , pp. 287-313 More about this Journal
Abstract
This paper measures and analyzes cooling and heating demand in Korean electricity demand using time-varying temperature response functions and cooling and heating temperature effects. We fit the model to Korean data for residential and commercial sector over 1999:01~2016:12 and the estimation results show that the growth rate of heating demand is much higher than that of base and cooling demand, and especially the growth rate of heating demand in commercial sector is much higher. And we define the temperature-normalized demand conditioning that monthly temperatures are assumed as average monthly temperatures. The growth rate of heating demand in the estimated temperature-normalized demand is higher than that in the real demand. Our results are expected to be a base data for Winter Demand Management and short-term electricity demand forecasting.
Keywords
Cooling and heating demand; Temperature response function; Temperature effect; Temperature-normalized demand;
Citations & Related Records
Times Cited By KSCI : 2  (Citation Analysis)
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