Energy Demand Forecasting: Combining Cointegration Analysis and Artificial Intelligence Algorithm

Table 3

Results of bounds testing approach based on SBC.

Electricity demand function		-statistics	Lag order	Cointegration
		2.5629	1	Inconclusive
			2	Yes
		2.5507	2	Inconclusive
		1.8554	2	No
		2.5478	2	Inconclusive
			2	Yes
Critical values
	(lower-upper)		(lower-upper)
1% level	4.134	5.761	4.280	5.840
5% level	2.910	4.193	3.058	4.223
10% level	2.407	3.517	2.525	3.560

Note. denotes the “ln” form of electricity demand; stand for the “ln” form of population, GDP, economic structure, urbanization, and energy price, respectively; the critical values are taken from the appendix in Narayan [37]; denotes significance at the 10% level; since there are only thirty-one samples, the max lag order is 1 for and 2 for other electric energy demand functions.