The structure of residential energy demand in Greece

This paper attempts to shed light on the determinants of residential energy demand in Greece, and to compare it with some other OECD countries. From the estimates of the short-run and long-run elasticities of energy demand for the period 1965–1999, we find that residential energy demand appears to b...

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Bibliographic Details
Published in:Energy policy 2006-11, Vol.34 (17), p.3137-3143
Main Authors: Rapanos, Vassilis T., Polemis, Michael L.
Format: Article
Language:English
Subjects:
Applied sciences
Demand
Econometrics
Economic data
Energy
Energy consumption - Greece
Energy economics
Energy efficiency
Energy industry
Energy policy
Exact sciences and technology
General, economic and professional studies
Greece
Greece - Energy sector
Households
Methodology. Modelling
Neighborhoods
Power demand
Price elasticity
Residential energy demand
Structural change
Studies
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Summary:This paper attempts to shed light on the determinants of residential energy demand in Greece, and to compare it with some other OECD countries. From the estimates of the short-run and long-run elasticities of energy demand for the period 1965–1999, we find that residential energy demand appears to be price inelastic. Also, we do not find evidence of a structural change probably because of the low efficiency of the energy sector. We find, however, that the magnitude of the income elasticity varies substantially between Greece and other OECD countries.
ISSN:0301-4215
1873-6777
DOI:10.1016/j.enpol.2005.05.017