Abstract
The average generation of electricity is getting increased day by day due to its increasing demand. So forecasting the future needs of electricity is very essential, especially in India. In this paper, a Grey Model (GM) and a Nonlinear Grey Model (NGM) are introduced with the concept of the Bernoulli Differential Equation (BDE) to obtain higher predictive precision, accuracy rate. To improve the prediction accuracy of GM, the Nonlinear Grey Bernoulli Model (NGBM) is used. The NGBM model is having the capability to produce more reliable outcomes. The NGBM with power r is a nonlinear differential equation. Using power r in NGBM the expected result can be controlled and adjusted to fit the results of 1-AGO historical raw data. NGBM is a recent grey prediction model to easily adjust for the correctness of GM(1, 1) stable with a BDE. The differentiation of desired outcome with the actual GM(1, 1) has been displayed through a feasible forecasting model NGBM(1, 1) by accumulating the decisive variables. This model may help government to extend future planning for generation of electricity.
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