o:5420 Electricity Usage Efficiency and Electricity Demand Modeling in the Case of Germany and the UK en Abstract: In this article, monthly and yearly electricity consumption predictions for the German power market were calculated using the multiple variable regression model. This model accounts for several factors that are often neglected when forecasting electricity demand in practice, in particular the role of the higher efficiency of electricity usage from year to year. The analysis performed in this paper helps to explain why no growth in power consumption has been observed in Germany during the last decade. It shows that the electricity efficiency usage dataset is a relevant input for the model, which mitigates the combined impact of other factors on the final electricity consumption. The electricity demand forecasting model presented in this article was built in the year 2013 with forecasts for the future years’ electricity demand in Germany provided until 2020. These forecasts and related findings are also evaluated in this article. Keywords: electricity consumption; demand forecasting; regression models; electricity usage efficiency 1552099 10.3390/app10072291 2024-09-26T08:43:10.668Z 44 yes 46 Branislav Dudic Fakultet za ekonomiju i inženjerski menadžment u Novom Sadu 0000-0002-4647-6026 Jan Smolen person Pavel Kovac person Borislav Savkovic person Zdenka Dudic person 2020 application/pdf 2352228 https://unilib.phaidrabg.rs/o:5420 no yes 16 70 1552253 2020-03-23 Applied Sciences 10 7 2291 2291 2020-03-27