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Increase of electricity price and energy efficiency: analysis using the macroeconomic interindustry model of Taiwan

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  • Yu-Wen Su
  • Hao-Yen Yang
  • Chih-Hsun Lin

Abstract

From 2012 to 2013, the price of electricity in Taiwan increased by 19.78%. This large increase forced producers to invest in improving electricity efficiency. In this paper, the macroeconomic interindustry model of Taiwan (MEIT) is developed to study the economic effects of high electricity prices and consequential improvement in energy efficiency. MEIT describes the structure of 47 industries, from both real and price-income approaches. To resolve inconsistent data, RAS is employed. A technical model is also integrated to consider technical feasibility, which offsets the usual shortcomings of technological analysis in an economic model. The iron and steel industry is taken as a case study. Estimated results indicate that higher electricity prices negatively affect Taiwan’s economy. However, improving energy efficiency can reduce some of this effect.

Suggested Citation

  • Yu-Wen Su & Hao-Yen Yang & Chih-Hsun Lin, 2017. "Increase of electricity price and energy efficiency: analysis using the macroeconomic interindustry model of Taiwan," Economic Systems Research, Taylor & Francis Journals, vol. 29(3), pages 430-451, July.
    • Handle: RePEc:taf:ecsysr:v:29:y:2017:i:3:p:430-451
    DOI: 10.1080/09535314.2017.1323726
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    Cited by:

    1. Ai, Hongshan & Xiong, Shiya & Li, Ke & Jia, Pinrong, 2020. "Electricity price and industrial green productivity: Does the “low-electricity price trap” exist?," Energy, Elsevier, vol. 207(C).
    2. Tomasz Rokicki & Piotr Bórawski & Barbara Gradziuk & Piotr Gradziuk & Aldona Mrówczyńska-Kamińska & Joanna Kozak & Danuta Jolanta Guzal-Dec & Kamil Wojtczuk, 2021. "Differentiation and Changes of Household Electricity Prices in EU Countries," Energies, MDPI, vol. 14(21), pages 1-21, October.
    3. Yevheniia Ziabina & Aleksy Kwilinski & Oleksii Lyulyov & Tetyana Pimonenko & Yana Us, 2023. "Convergence of Energy Policies between the EU and Ukraine under the Green Deal Policy," Energies, MDPI, vol. 16(2), pages 1-19, January.

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