Accurate electricity forecasting is vital for grid stability and effective energy management, particularly in regions like Benghazi, Libya, which face frequent load shedding, generation deficits, and aging infrastructure. This study introduces a data-driven framework to forecast electricity load, generation, and deficits for 2025 using historical data from two distinct years: 2019 (an instability year) and 2023 (a stability year). Various time series models were employed, including Autoregressive Integrated Moving Average (ARIMA), seasonal ARIMA, dynamic regression ARIMA, extreme gradient boosting, simple exponential smoothing, and Long Short-Term Memory (LSTM) neural networks. Data preprocessing steps—such as missing value imputation, outlier smoothing, and logarithmic transformation—are applied to enhance data quality. Model performance was evaluated using metrics such as mean squared error, root mean squared error, mean absolute error, and mean absolute percentage error. LSTM outperformed other models, achieving the lowest mentioned metric values for forecasting load, generation, and deficits, demonstrating its ability to handle non-stationarity, seasonality, and extreme events. The study’s key contribution is the development of an optimized LSTM framework tailored to North Benghazi’s electricity patterns, incorporating a rich dataset and exogenous factors like temperature and humidity. These findings offer actionable insights for energy policymakers and grid operators, enabling proactive resource allocation, demand-side management, and enhanced grid resilience. The research highlights the potential of advanced machine learning techniques to address energy-forecasting challenges in resource-constrained regions, paving the way for a more reliable and sustainable electricity system.