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A Supply and Use Model for Estimating the Contribution of Costs to Energy Prices

Author

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  • Nikolaos Rodousakis

    (Centre of Planning and Economic Research, 106 72 Athens, Greece)

  • George Soklis

    (Department of Public Administration, Panteion University, 176 71 Athens, Greece)

  • Theodore Tsekeris

    (Centre of Planning and Economic Research, 106 72 Athens, Greece)

Abstract

This paper develops a supply and uses a model to estimate the direct and indirect contribution of costs to the formation of energy prices. The model is implemented into the Greek economy based on data from the supply and use tables. The findings of the analysis indicate that the main component of energy prices are profits, mainly distributed to the energy sector itself, and imports, which mostly concern Mining and quarrying products and Coke and refined petroleum products imported from non-EU countries. As far as the contribution of the energy sector to the price formation of the other industries of the Greek economy is concerned, it is found that the energy sector mainly contributes to the price formation of industrial sectors. The results imply that the containment of energy prices should be principally based on an income policy that would limit excessive profits within the energy sector and an import substitution policy towards the exploitation of domestic mining and quarrying products as well as coke and refined petroleum products.

Suggested Citation

  • Nikolaos Rodousakis & George Soklis & Theodore Tsekeris, 2022. "A Supply and Use Model for Estimating the Contribution of Costs to Energy Prices," Energies, MDPI, vol. 15(19), pages 1-10, September.
    • Handle: RePEc:gam:jeners:v:15:y:2022:i:19:p:6878-:d:919878
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    References listed on IDEAS

    as
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    Cited by:

    1. Damira Keček, 2023. "The Effects of Rising Energy Prices on Inflation in Croatia," Energies, MDPI, vol. 16(4), pages 1-14, February.

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