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I am using demand (MW) data and want to take out the weather component from my demand (MW). Any suggestions on a relatively simple way to do this?
On a side note I need this so I can figure out when demand(MW) on a weekend( Saturday, Sunday) will take over demand(MW) on a weekday( Mon-Fri).
If anyone has experience in this I would appreciate it, it's been challenging to model this.
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Hello Scott,
I've been doing weather normalization of gas consumption for about 2 years now. And wonder if there's a way to provide a confidence interval for weather corrected consumption?
This is my concearn:
Let's say a simple equation:
Estimated consumption:
Chat=a+bHDD
Reference consumption:
Cref=a+bHDDref
Climat Correction (CC)=Cref-Chat:
Corrected Consumption:
Ccorr=Cobserved+CC=Cobserved+Cref-Chat=Cref+errow
errow=Cobserved-Chat
How to provide confidence interval for something that has error term? I've looked through some studies but I have not found Conf. Intervals for weather correction. Have you done it before?
Thank you.
Sincerely,
Irina
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