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Price and income elasticity of natural gas demand in Europe and the effects of lockdowns due to Covid-19
dc.contributor.author | Erias Rodriguez, Antonio | |
dc.contributor.author | Iglesias, Emma M. | |
dc.date.accessioned | 2022-12-28T13:18:48Z | |
dc.date.available | 2022-12-28T13:18:48Z | |
dc.date.issued | 2022 | |
dc.identifier.citation | Erias, A.F., Iglesias, E.M. (2022). Price and income elasticity of natural gas demand in Europe and the effects of lockdowns due to Covid-19. Energy Strategy Reviews, 44, 100945. doi: 10.1016/j.esr.2022.100945 | es_ES |
dc.identifier.issn | 2211-467X | |
dc.identifier.uri | http://hdl.handle.net/2183/32241 | |
dc.description.abstract | [Abstract] We analyse a panel of 25 European-countries to provide novel estimates of monthly own-price, cross-price, and income elasticities of natural-gas-demand from 2005 to 2020. We find that: first, there is an European Standard Behaviour (ESB) with a strong-seasonal component. Second, we identify three different patterns from the ESB: 1) France, Denmark and Estonia present slightly positive elasticities in the short-run and a lack of sensitivity to own-price variations in the long-run –we argue this phenomenon is due to a higher weight of heating demand-. 2) Latvia presents a lower sensitivity to own-price variations than the ESB -we argue due to the role of natural gas as a unique backup technology in the power sector-. 3) In Portugal, natural gas showed the highest own-price elasticities – we argue that natural gas is used mainly in the power sector with substitutive technologies-. Finally, we find that Covid-19-lockdowns highly impacted natural-gas-demand, confirming the “double-heating-effect”. | es_ES |
dc.description.sponsorship | Xunta de Galicia; ED431C 2020/26 | es_ES |
dc.language.iso | eng | es_ES |
dc.publisher | Elsevier | es_ES |
dc.relation | info:eu-repo/grantAgreement/AEI/Plan Estatal de Investigación Científica y Técnica y de Innovación 2017-2020/PGC2018-101327-B-100/ES/NUEVOS MODELOS DE VOLATILIDAD Y ANALISIS DE LOS VALORES EXTREMOS Y DE SU COMPORTAMIENTO EN LAS COLAS | es_ES |
dc.relation.uri | https://doi.org/10.1016/j.esr.2022.100945 | es_ES |
dc.rights | Atribución 4.0 Internacional | es_ES |
dc.rights.uri | https://creativecommons.org/licenses/by/4.0/deed.es | * |
dc.subject | Natural gas | es_ES |
dc.subject | Price elasticity | es_ES |
dc.subject | Income elasticity | es_ES |
dc.subject | Energy demand in Europe | es_ES |
dc.subject | Double heating effect | es_ES |
dc.title | Price and income elasticity of natural gas demand in Europe and the effects of lockdowns due to Covid-19 | es_ES |
dc.type | info:eu-repo/semantics/article | es_ES |
dc.rights.access | info:eu-repo/semantics/openAccess | es_ES |
UDC.journalTitle | Energy Strategy Reviews | es_ES |
UDC.volume | 44 | es_ES |
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