South African Stochastic Electric Power Forecast, Consumption Evaluation and Analysis

Economic developments and energy consumption are inseparable entities. Power consumption in South Africa reflects the living standards of its citizens. Prospects of increasing power generation capacity to meet power demand in South Africa are measures which have been introduced in creating sustainable power in South Africa. Precise power consumption forecasts are critical steps towards creating operative and strategic plans for power utility management in the nation. The power consumption forecast plays important role in risk management across various sectors and necessitates economic measures in any country. This paper presents an analysis and evaluation of current and future power and energy consumption across South Africa. Thus this places high importance to the energy saving measures introduced by Eskom, the South African power utility company in creating sustainable power supply and demand-side management system in South Africa. The results from the power consumption forecast influences the strategic economic decisions made by various small businesses and the mining sector in South Africa. The forecast features models of power consumptions which are South African energy model derivatives. The power consumption forecast and analysis provides transparent measures with which the government and stake holders in South Africa use in evaluating the power crisis level and economic growth of the country.