Prediction Model for the Electrical Industry in Spain—The Trend Toward Renewable Energy

Abstract

ABSTRACTDuring 2008-2013, the global economic crisis and financial uncertainty brought important economic adjustments in developed countries and especially in the European Union (EU). Currently, however, key national and international agencies predict the consolidation and acceleration of growth of the European economy during 2014-2015, driven by recovery of trust and improved financial conditions.According to the report of the International Energy Agency (IEA) and the reports of Spanish energy sector, final demand for electricity dropped 3.4% in 2013 over the previous year, which was evidence of lower economic activity and structural differences in consumption.The final electricity demand in 2013 was 232,008 GWh, down 3.4% from the previous year. However, the forecast for 2014 and 2015 foresees an increase of 1.5%, which will influence the changing trend model of the electricity industry in Spain.This model allows predicting the potential political and economic implications, which are dependant on the di...