Energy Economics

Sickles, Robin C.; Huntington, Hillard G.

doi:10.1057/978-1-349-95121-5_663-2

Cited by 2 publications

(1 citation statement)

References 16 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…In the energy sector, the price elasticity of energy demand has become an increasingly important factor in measuring the socioeconomic and environmental impacts of energy policies or other events that affect the price of energy products. Since the 1970s, scientific studies have used different models, data, and methods to produce short-and long-term price elasticity estimates for various countries [11]. These studies [12][13][14][15][16][17][18][19] measure the latter for various energy products such as electricity, natural gas, gasoline, and car fuels.…”

Section: Literature Reviewmentioning

confidence: 99%

Price and Income Elasticities of Hungarian Household Energy Demand: Implications for Energy Policy in the Context of the Energy Crisis

Szép,

Kashour

2023

GLCE

View full text Add to dashboard Cite

The energy crisis that began in the second half of 2021, exacerbated by the Russian-Ukrainian war, created unexpected difficulty for European Union Member States in terms of shaping their energy policies. Hungary was one of the most vulnerable countries, whose economic development was fraught with severe risk due to the strong dependence on Russian energy sources and regulated energy prices for households, significantly slowing down the transition to green energy. The sharp change in energy prices due to the introduction of a price cap in 2013-2014 and the partial adjustment in 2022 draws attention to the situation of Hungarian energy demand. This study describes the absolute short-term price elasticities of Hungarian household natural gas and electricity demand and gas and electricity cross-price and income elasticities of the former for income deciles between 2010 and 2021 using the midpoint percentage method. The results show that electricity demand is more elastic than gas demand, implying that Hungarian household consumers are more responsive to changes in electricity prices than those of gas. In addition, low-income Hungarian households are more sensitive to changes in both of the latter than high-income households, while no consistent pattern is identified in the relationship between income and energy demand. Accordingly, the study recommends the implementation of a multi-tariff pricing strategy based on the energy burden of the income deciles. This should particularly target the first two deciles, which are the most vulnerable and sensitive to energy price changes.

show abstract

Section: Literature Reviewmentioning

confidence: 99%

Price and Income Elasticities of Hungarian Household Energy Demand: Implications for Energy Policy in the Context of the Energy Crisis

Szép,

Kashour

2023

GLCE

View full text Add to dashboard Cite

show abstract

Future Oil Prices, Where to? A Systematic Modeling Tool for Decision Makers

Belhaj

Aljarwan²,

Ali

et al. 2012

All Days

View full text Add to dashboard Cite

The global economy continues its journey of evolution and progression driven by industrialism as its primary force. With such a fast pace of development and recovery from several recessions over a number of years, dependency on energy sources became inevitable to satisfy the rising demand. This paper represents a proposed global energy price model that has the flexibility of modeling the energy price, using data from specific regions of the world, as well as the global energy pricing equation. The ANM (Alternate Novel Model) is presented here. The model focuses mainly on oil price modeling, since oil accounts for more than 84% of the current world energy supply. The model duration is 50 years; starting from 1980 to 2030, model matching period from 1980 to 2011, and the prediction period is from 2012to 2030. The modeling approach used in ANM adopts weighted averaging of individual factors and it relies on line regression technique. Therefore, future trends are being predicted based on the cyclic nature of the market and historical data "the future is reflection of the past". ANM can then preduct the future oil prices, depending on the factors and variables that have been placed in the process for the output results. The paper aims to propose a reliable model that accounts for most governing factors in the global energy pricing equation. All steps followed and assumptions made will be discussed in detailto clarify the working mechanism for this model and pave the road for any future modifications.

show abstract

Energy Economics

Cited by 2 publications

References 16 publications

Price and Income Elasticities of Hungarian Household Energy Demand: Implications for Energy Policy in the Context of the Energy Crisis

Price and Income Elasticities of Hungarian Household Energy Demand: Implications for Energy Policy in the Context of the Energy Crisis

Future Oil Prices, Where to? A Systematic Modeling Tool for Decision Makers

Contact Info

Product

Resources

About