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Econometric Approach of the Scenarios regarding the Impact of the Consumer’s Empowerment and Companies’ Responsibility for Environment Sustainability on the Electricity Market Performance

Author

Listed:
  • Camelia I. Lungu

    (Academia de Studii Economice)

  • Cornelia Dascalu

    (Academia de Studii Economice)

  • Chirata Caraini

    (Academia de Studii Economice)

  • Erica C. Balea

    (Academia de Studii Economice)

Abstract

Energy is a major component of the economy, both as a sector in itself and as an input factor to all other economic activities. This sector is facing major challenges regarding increasing oil prices, severity of climate change or extremely complex implications of the global financial crisis. Organized as an empirical study, based on econometric analysis supported by a rigorous literature review, the paper studies possible correlations between the performance of electricity market, renewable resource consumption, consumers` behaviour, the influence of economic environment and economic development. It also aims to encourage a new and wider research framework regarding the implications of economic policies` use on consumers` perception. The results of the study indicate that the early stage of renewable energy use and the prospect of influencing the consumer behaviour in a way to increase the market performance, through the development of strategies oriented towards sustainable energy consumption, can have a positive impact on companies’ responsibility. It is concluded that consumers` empowerment stimulates competition, raises efficiency and rethinks companies` strategies for environment sustainability.

Suggested Citation

  • Camelia I. Lungu & Cornelia Dascalu & Chirata Caraini & Erica C. Balea, 2014. "Econometric Approach of the Scenarios regarding the Impact of the Consumer’s Empowerment and Companies’ Responsibility for Environment Sustainability on the Electricity Market Performance," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 16(35), pages 187-187, February.
    • Handle: RePEc:aes:amfeco:v:1:y:2014:i:35:p:187
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    Cited by:

    1. Slobodan Cerovic & Nemanja Stanišic & Tijana Radojevic & Nikica Radovic, 2015. "The Impact of Ownership Structure on Corporate Performance in Transitional Economies," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 17(38), pages 441-441, February.
    2. Dalia Streimikiene & Asta Mikalauskiene, 2014. "Lithuanian Consumer`s Willingness to Pay and Feed-in Prices for Renewable Electricity," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 16(36), pages 594-594, May.

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    More about this item

    Keywords

    consumers` empowerment; corporate responsibility; sustainable environment; market performance; renewable energy; econometric scenarios analysis.;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q47 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy Forecasting
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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