Time Series ARIMA Modeling of Fossil Fuel and Electricity Conservation Challenge for Malaysia

Abstract

Energy predicament in Malaysia ruptured due to the higher population, living standards and increase of income per capita which boosted the energy demand continuously. Hence, the final energy consumption, fossil fuels and electricity for 1996-2007 was modeled through 2016 employed the Box-Jenkins time series analysis, ARIMA method to stimulate an effort to solve the problem. The prediction models for each parameters show the increasing trends ahead. It is believed that the forecasts and the comments presented in this paper would be helpful to policy makers in Malaysia for future energy policy planning. Subsequently, the Malaysian Government is looking for Malaysia’s effort to sustain its energy sector.