The impact of the COVID-19 pandemic on the energy market – A comparative relationship between oil and coal

Wang, Qiang; Yang, Xuan; Li, Rongrong

doi:10.1016/j.esr.2021.100761

Cited by 82 publications

(50 citation statements)

References 33 publications

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“…Moreover, the increase in CO 2 emissions from fossil fuels was also influenced by rising gas prices. More expensive fuel was replaced by cheaper ones [47].…”

Section: Discussion Of Results and Conclusionmentioning

confidence: 99%

Analysis of the Impact of the COVID-19 Pandemic on the Value of CO2 Emissions from Electricity Generation

2022

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The study analyzed the impact of the COVID-19 pandemic on the carbon dioxide emissions from electricity generation. Additionally, monthly seasonality was taken into account. It was assumed (research hypothesis) that both the COVID-19 pandemic (expressed in individual waves of infection cases) and the month have a significant impact on CO2 emissions. Analysis of variance (ANOVA) and non-parametric Kruskal–Wallis tests were used to evaluate the significance of the influence of individual explanatory variables on the CO2 emission. The identification of the studied series (CO2 emission) was first made by means of a linear regression model with binary variables and then by the ARMAX model. The analysis shows that in the consecutive months and periods of the COVID-19 pandemic, CO2 emissions differ significantly. The highest increase in emissions was recorded for the second wave of the pandemic, as well as in January and February. This is due to the overlapping of both the increase in infections (favoring stays at home) and the winter season. It can be concluded that working plants, schools and factories had the same demand for electricity, but sources of increased consumption were people staying at home and in hospitals as a result of deteriorated health, isolation or quarantine.

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“…Moreover, the increase in CO 2 emissions from fossil fuels was also influenced by rising gas prices. More expensive fuel was replaced by cheaper ones [47].…”

Section: Discussion Of Results and Conclusionmentioning

confidence: 99%

Analysis of the Impact of the COVID-19 Pandemic on the Value of CO2 Emissions from Electricity Generation

2022

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“…In the short term, COVID-19 had a significant impact on the functioning of the global energy market, a result also highlighted by Wang, Yang. 12 The second lockdown imposed in many countries has contributed to considerable uncertainty among investors. Consequently, the level of stress in the European financial system, according to the composite indicator calculated by the European Central Bank increased significantly in March 2020.…”

Section: Resultsmentioning

confidence: 99%

“…For instance, Gharib, Mefteh-Wali 11 found a joint contagion effect of bubbles in oil and gold markets over the pandemic. Wang, Yang 12 found that the risks associated with coal and WTI crude oil are distributed and interacted with one another. Amamou and Bargaoui 13 reported that since the emergence of the second pandemic wave, the number of reported cases has lost explanatory capacity, but mortality caused by this virus has become a substantial explanatory factor.…”

Section: Introductionmentioning

confidence: 99%

Evidence from the nonlinear autoregressive distributed lag model on the asymmetric influence of the first wave of the COVID-19 pandemic on energy markets

Armeanu

Gherghina

Vasile

et al. 2022

Energy & Environment

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The COVID-19 pandemic remained a global risk factor and integrated into various means in the functioning of companies, economies and financial markets. Therefore, this paper investigates how COVID-19 influences the energy market in the main financial markets (China, France, Germany, Italy, Spain and the United States), using time series from February 28, 2020, to November 3, 2020. The goal of this research is to investigate the asymmetric impact of COVID-19 from leading financial markets on energy commodities. In this regard, the non-linear auto-regressive distributed lag (NARDL) framework is employed to capture the long-run asymmetric reactions. The econometric design allows to explore the long-term asymmetric reactions of dependent variables through positive and negative partial sum decompositions of changes in the explanatory variables. The quantitative results show a significant long-run asymmetric interdependence between the number of new SARS-CoV-2 incidence and mortality and the daily percent change in close price of future contracts pertaining to Brent oil, crude oil WTI, carbon emissions, gasoline RBOB, heating oil, Chukyo kerosene, and natural gas. Furthermore, no asymmetry is found in the case of ethanol and fuel oil futures. The novelty of this article is the study of the impact of COVID-19 on the energy sector during the first two waves of COVID-19 by applying the NARDL model that allows to capture long-term asymmetric reactions. Certainly, further research on this topic is necessary due to the permanent shifts in the pandemic, as well as the availability of longer data periods on COVID-19.

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“…It was shown that asymmetric crude oil price dynamics is a key driver of the trend of stock dynamics. Wang et al [23] used Hurst exponent computations to show that the informational efficiency of crude oil markets declined during the Covid-19 pandemic.…”

Section: Introductionmentioning

confidence: 99%

A singular value decomposition entropy approach to assess the impact of Covid-19 on the informational efficiency of the WTI crude oil market

Espinosa-Paredes¹,

Alvarez-Ramı́rez

2022

Chaos, Solitons & Fractals

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The impact of the COVID-19 pandemic on the energy market – A comparative relationship between oil and coal

Cited by 82 publications

References 33 publications

Analysis of the Impact of the COVID-19 Pandemic on the Value of CO2 Emissions from Electricity Generation

Analysis of the Impact of the COVID-19 Pandemic on the Value of CO2 Emissions from Electricity Generation

Evidence from the nonlinear autoregressive distributed lag model on the asymmetric influence of the first wave of the COVID-19 pandemic on energy markets

A singular value decomposition entropy approach to assess the impact of Covid-19 on the informational efficiency of the WTI crude oil market

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