Forecast on Electricity Demand for Industry and Construction Sectors in Vietnam by 2030

An accurate forecasting for long-term electric loads can make a major contribution to the planning of Vietnam electrical systems, in which industry and construction sectors are currently holding the leading position of largest consumers with 50% sharing in national consumption proportion. Thus, predicting demand for industry and construction sectors is an important compulsory. This paper proposes a Cobb Douglas econometric model due to its accuracy and high potential of implementation in many forecasting fields, especially in predicting numerous socioeconomic indicators. Forecasted results show that the suggested method and results of prediction in this paper could be considered as reference tools for researchers and policy makers to build a reasonable planning for long-term maintenance schedules, to establish the development and construction plan for new power-facilities, and expansion plan for national transmission and distribution systems.