Table of Contents Author Guidelines Submit a Manuscript
Mathematical Problems in Engineering
Volume 2015, Article ID 686501, 7 pages
http://dx.doi.org/10.1155/2015/686501
Research Article

Using a Novel Grey System Model to Forecast Natural Gas Consumption in China

1College of Economics and Management, Nanjing University of Aeronautics and Astronautics, Nanjing 210016, China
2Department of Mathematics and Physical, Handan College, Handan 056005, China

Received 14 April 2014; Revised 24 July 2014; Accepted 24 July 2014

Academic Editor: Massimo Scalia

Copyright © 2015 Lifeng Wu et al. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract

Accurate prediction of the future energy needs is crucial for energy management. This work presents a novel grey forecasting model that integrates the principle of new information priority into accumulated generation. This grey model can better reflect the priority of the new information theoretically. The results of two practical examples demonstrate that this grey model provides very remarkable short-term predication performance compared with traditional grey forecasting model for limited data set forecasting. It is applied to Chinese gas consumption forecasting to show its superiority and applicability.