Single Buyer undertook a Gross Domestic Product (GDP) Forecasting Workshop conducted by RAM Sustainability Sdn. Bhd. in collaboration with Monash University to strengthen the economic modelling frameworks underpinning long-term electricity demand forecasting.

The four-day virtual programme focused on reviewing and refining the GDP forecasting model used by Single Buyer’s Load Forecast Unit. A key enhancement introduced during the workshop was the Two-Step Forecast Process, which incorporates the economic impacts of the Movement Control Order (MCO) and broader COVID-19 disruptions into macroeconomic projections.

Participants from Single Buyer’s Load Forecast and Capacity Planning units, together with representatives from Sabah Electricity Sdn. Bhd. (SESB) and Suruhanjaya Tenaga, examined both theoretical and practical aspects of GDP forecasting. The sessions covered time-series econometrics, forecasting tools, modelling techniques and approaches to assessing economic uncertainty in the post-pandemic environment.

The programme combined quantitative modelling with qualitative assessment, recognising the importance of expert judgement in interpreting economic signals and refining forecast assumptions. Participants applied the methodologies through group exercises, developing GDP projections and evaluating variations in modelling outcomes.

By strengthening macroeconomic modelling capability, Single Buyer enhances the analytical inputs that inform electricity demand projections, generation planning and long-term system adequacy assessments — reinforcing disciplined planning foundations for Malaysia’s evolving electricity market.