David Willingham, MathWorks
Since 2008 energy demand in Australia has started to decline. The result: traditional regression based models that were being used to forecast long term energy load are now highly inaccurate in their predictions. Energy demand has since continued to fall, however will it increase again? If so, how can this be predicted? A dynamic model to forecast long term energy demand is needed. Econometrics techniques can be used to create a dynamic, self-tuning model for predicting long term energy load.