Energy Revolution and Security Guarantee of China’s Energy Economy

Energy is the blood for economic operation. Energy structure adjustment may significantly impact the macroeconomic operation of a country. This study quantitatively estimates the effect of energy structure adjustment on energy prices and further evaluates the impact of the resulted price changes on...

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Autores principales:	Huang Weihe, Mei Yingdan, Wu Lili, Liang Yunling, Zhao Xiaoli
Formato:	article
Lenguaje:	ZH
Publicado:	《中国工程科学》杂志社 2021
Materias:	energy revolution, security of energy economy, energy structure, energy price, national economy Engineering (General). Civil engineering (General) TA1-2040
Acceso en línea:	https://doaj.org/article/adfa5552b63f48c985a4351ea7b49784
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spelling	oai:doaj.org-article:adfa5552b63f48c985a4351ea7b497842021-11-29T08:00:02ZEnergy Revolution and Security Guarantee of China’s Energy Economy2096-003410.15302/J-SSCAE-2021.01.018https://doaj.org/article/adfa5552b63f48c985a4351ea7b497842021-01-01T00:00:00Zhttp://www.engineering.org.cn/en/10.15302/J-SSCAE-2021.01.018https://doaj.org/toc/2096-0034Energy is the blood for economic operation. Energy structure adjustment may significantly impact the macroeconomic operation of a country. This study quantitatively estimates the effect of energy structure adjustment on energy prices and further evaluates the impact of the resulted price changes on macroeconomic operations using an econometric model and statistical methods. The results indicate that 1% increase of the proportion of natural gas consumption in the total energy consumption raises energy prices by 0.8% while 1% increase of the coal consumption ratio lowers energy prices by 0.2%. Moreover, technological progress, energy investment growth, increased marketization, and energy efficiency improvement are conducive to reducing energy prices. We conclude that China’s energy revolution is less likely to affect the security of the energy economy and the energy price rise remains within the acceptable range of national economy and energy consumption. To better ensure the security of energy economy in the process of China’s energy revolution, we propose that China should focus on technology innovation and deepen the reforms in the energy market to improve the competitiveness of the energy market. These measures are beneficial for mitigating the energy price increase pressure from energy revolution. Huang Weihe Mei Yingdan Wu Lili Liang Yunling Zhao Xiaoli 《中国工程科学》杂志社articleenergy revolution, security of energy economy, energy structure, energy price, national economyEngineering (General). Civil engineering (General)TA1-2040ZH中国工程科学, Vol 23, Iss 1, Pp 124-132 (2021)
institution	DOAJ
collection	DOAJ
language	ZH
topic	energy revolution, security of energy economy, energy structure, energy price, national economy Engineering (General). Civil engineering (General) TA1-2040
spellingShingle	energy revolution, security of energy economy, energy structure, energy price, national economy Engineering (General). Civil engineering (General) TA1-2040 Huang Weihe Mei Yingdan Wu Lili Liang Yunling Zhao Xiaoli Energy Revolution and Security Guarantee of China’s Energy Economy
description	Energy is the blood for economic operation. Energy structure adjustment may significantly impact the macroeconomic operation of a country. This study quantitatively estimates the effect of energy structure adjustment on energy prices and further evaluates the impact of the resulted price changes on macroeconomic operations using an econometric model and statistical methods. The results indicate that 1% increase of the proportion of natural gas consumption in the total energy consumption raises energy prices by 0.8% while 1% increase of the coal consumption ratio lowers energy prices by 0.2%. Moreover, technological progress, energy investment growth, increased marketization, and energy efficiency improvement are conducive to reducing energy prices. We conclude that China’s energy revolution is less likely to affect the security of the energy economy and the energy price rise remains within the acceptable range of national economy and energy consumption. To better ensure the security of energy economy in the process of China’s energy revolution, we propose that China should focus on technology innovation and deepen the reforms in the energy market to improve the competitiveness of the energy market. These measures are beneficial for mitigating the energy price increase pressure from energy revolution.
format	article
author	Huang Weihe Mei Yingdan Wu Lili Liang Yunling Zhao Xiaoli
author_facet	Huang Weihe Mei Yingdan Wu Lili Liang Yunling Zhao Xiaoli
author_sort	Huang Weihe
title	Energy Revolution and Security Guarantee of China’s Energy Economy
title_short	Energy Revolution and Security Guarantee of China’s Energy Economy
title_full	Energy Revolution and Security Guarantee of China’s Energy Economy
title_fullStr	Energy Revolution and Security Guarantee of China’s Energy Economy
title_full_unstemmed	Energy Revolution and Security Guarantee of China’s Energy Economy
title_sort	energy revolution and security guarantee of china’s energy economy
publisher	《中国工程科学》杂志社
publishDate	2021
url	https://doaj.org/article/adfa5552b63f48c985a4351ea7b49784
work_keys_str_mv	AT huangweihe energyrevolutionandsecurityguaranteeofchinasenergyeconomy AT meiyingdan energyrevolutionandsecurityguaranteeofchinasenergyeconomy AT wulili energyrevolutionandsecurityguaranteeofchinasenergyeconomy AT liangyunling energyrevolutionandsecurityguaranteeofchinasenergyeconomy AT zhaoxiaoli energyrevolutionandsecurityguaranteeofchinasenergyeconomy
_version_	1718407544862408704

Energy Revolution and Security Guarantee of China’s Energy Economy

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