Evaluation of Energy Price Liberalization in Electricity Industry: A Data-Driven Study on Energy Economics

This study aims to evaluate the effects of price liberalization on energy consumption intensity, because price liberalization leads to improved productivity, energy consumption management, and consumption reform<em>.</em> Although the energy consumption of large-scale factories and indus...

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Autores principales:	Tayebeh Sadat Tabatabaei, Pedram Asef
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	energy price liberalization electricity energy intensity electricity industry GDP high-dimensional data analysis Technology T
Acceso en línea:	https://doaj.org/article/5e7d2a4addc84637ad56900fca205b44
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spelling	oai:doaj.org-article:5e7d2a4addc84637ad56900fca205b442021-11-25T17:26:10ZEvaluation of Energy Price Liberalization in Electricity Industry: A Data-Driven Study on Energy Economics10.3390/en142275111996-1073https://doaj.org/article/5e7d2a4addc84637ad56900fca205b442021-11-01T00:00:00Zhttps://www.mdpi.com/1996-1073/14/22/7511https://doaj.org/toc/1996-1073This study aims to evaluate the effects of price liberalization on energy consumption intensity, because price liberalization leads to improved productivity, energy consumption management, and consumption reform<em>.</em> Although the energy consumption of large-scale factories and industries has increased dramatically, and the energies losses have an increment in the power transmission lines, this policy can result in decreasing the energy consumption intensity due to the changes in consumption patterns. If there is a correlation between two variables, the price can be a valid variable to control cost and increase consumption efficiency. The augmented Dickey–Fuller (ADF) and the Chi-squared tests are also employed to investigate the maneuverability of these variables in the first-order contrast. In this case study, the energy consumption intensity response to price changes using the data gathered between 1988–2020, has gained a confidence interval of these reactions at 95%. The proposed vector autoregressive (VAR) model has forecasted the action and reaction of the end-user, to investigate the future shocks between 2020–2050, considering a new price shock, in the Iranian energy market for the first time. The research findings have shown that energy price liberalization leads to the energy intensity improvement, however, the end-user (shocking) reactions should be investigated to implement a more sustainable policy that eases the new energy price rises.Tayebeh Sadat TabatabaeiPedram AsefMDPI AGarticleenergy price liberalizationelectricityenergy intensityelectricity industryGDPhigh-dimensional data analysisTechnologyTENEnergies, Vol 14, Iss 7511, p 7511 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	energy price liberalization electricity energy intensity electricity industry GDP high-dimensional data analysis Technology T
spellingShingle	energy price liberalization electricity energy intensity electricity industry GDP high-dimensional data analysis Technology T Tayebeh Sadat Tabatabaei Pedram Asef Evaluation of Energy Price Liberalization in Electricity Industry: A Data-Driven Study on Energy Economics
description	This study aims to evaluate the effects of price liberalization on energy consumption intensity, because price liberalization leads to improved productivity, energy consumption management, and consumption reform<em>.</em> Although the energy consumption of large-scale factories and industries has increased dramatically, and the energies losses have an increment in the power transmission lines, this policy can result in decreasing the energy consumption intensity due to the changes in consumption patterns. If there is a correlation between two variables, the price can be a valid variable to control cost and increase consumption efficiency. The augmented Dickey–Fuller (ADF) and the Chi-squared tests are also employed to investigate the maneuverability of these variables in the first-order contrast. In this case study, the energy consumption intensity response to price changes using the data gathered between 1988–2020, has gained a confidence interval of these reactions at 95%. The proposed vector autoregressive (VAR) model has forecasted the action and reaction of the end-user, to investigate the future shocks between 2020–2050, considering a new price shock, in the Iranian energy market for the first time. The research findings have shown that energy price liberalization leads to the energy intensity improvement, however, the end-user (shocking) reactions should be investigated to implement a more sustainable policy that eases the new energy price rises.
format	article
author	Tayebeh Sadat Tabatabaei Pedram Asef
author_facet	Tayebeh Sadat Tabatabaei Pedram Asef
author_sort	Tayebeh Sadat Tabatabaei
title	Evaluation of Energy Price Liberalization in Electricity Industry: A Data-Driven Study on Energy Economics
title_short	Evaluation of Energy Price Liberalization in Electricity Industry: A Data-Driven Study on Energy Economics
title_full	Evaluation of Energy Price Liberalization in Electricity Industry: A Data-Driven Study on Energy Economics
title_fullStr	Evaluation of Energy Price Liberalization in Electricity Industry: A Data-Driven Study on Energy Economics
title_full_unstemmed	Evaluation of Energy Price Liberalization in Electricity Industry: A Data-Driven Study on Energy Economics
title_sort	evaluation of energy price liberalization in electricity industry: a data-driven study on energy economics
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/5e7d2a4addc84637ad56900fca205b44
work_keys_str_mv	AT tayebehsadattabatabaei evaluationofenergypriceliberalizationinelectricityindustryadatadrivenstudyonenergyeconomics AT pedramasef evaluationofenergypriceliberalizationinelectricityindustryadatadrivenstudyonenergyeconomics
_version_	1718412352687177728

Evaluation of Energy Price Liberalization in Electricity Industry: A Data-Driven Study on Energy Economics

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