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Electricity demand for South Korean residential sector

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  • Sa'ad, Suleiman

Abstract

This study estimates the electricity demand function for the residential sector of South Korea with the aim of examining the effects of improved energy efficiency, structural factors and household lifestyles on electricity consumption. In the study, time series data for the period from 1973 to 2007 is used in a structural time series model to estimate the long-term price and income elasticities and annual growth of underlying energy demand trend (UEDT) at the end of the estimation period. The result shows a long-term income elasticity of 1.33 and a long-term price elasticity of -0.27% with -0.93% as the percentage growth of UEDT at the end of the estimation period. This result suggests that, in order to encourage energy efficiency in the residential sector, the government should complement the market based pricing policies with non-market policies such as minimum energy efficiency standards and public enlightenment.

Suggested Citation

  • Sa'ad, Suleiman, 2009. "Electricity demand for South Korean residential sector," Energy Policy, Elsevier, vol. 37(12), pages 5469-5474, December.
    • Handle: RePEc:eee:enepol:v:37:y:2009:i:12:p:5469-5474
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    References listed on IDEAS

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    Cited by:

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    5. Theologos Dergiades & Lefteris Tsoulfidis, 2011. "Revisiting residential demand for electricity in Greece: new evidence from the ARDL approach to cointegration analysis," Empirical Economics, Springer, vol. 41(2), pages 511-531, October.
    6. Bilgili, Faik & Pamuk, Yalçın & Halıcı Tülüce, Nadide Sevil, 2010. "Short run and long run dynamics of residential electricity consumption: Homogeneous and heterogeneous panel estimations for OECD," MPRA Paper 33291, University Library of Munich, Germany, revised Jun 2011.
    7. Adom, Philip Kofi & Bekoe, William, 2013. "Modelling electricity demand in Ghana revisited: The role of policy regime changes," Energy Policy, Elsevier, vol. 61(C), pages 42-50.
    8. Jia, Jun-Jun & Guo, Jin & Wei, Chu, 2021. "Elasticities of residential electricity demand in China under increasing-block pricing constraint: New estimation using household survey data," Energy Policy, Elsevier, vol. 156(C).
    9. Tiwari, Aviral Kumar & Menegaki, Angeliki N., 2019. "A time varying approach on the price elasticity of electricity in India during 1975–2013," Energy, Elsevier, vol. 183(C), pages 385-397.
    10. Arisoy, Ibrahim & Ozturk, Ilhan, 2014. "Estimating industrial and residential electricity demand in Turkey: A time varying parameter approach," Energy, Elsevier, vol. 66(C), pages 959-964.

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