Measuring resilience to energy shocks
Measuring energy security or resilience in energy is, in the main, confined to indicators which are used for comparative purposes or to show trends rather than provide empirical evidence of resilience to unpredicted crises. In this paper, the electricity systems of the individual states within the United States of America are analysed for their response to the 1973-1982 and the 2003-2012 oil price shocks. Empirical evidence is sought for elements which are present in systems that experience reduced volatility from the energy shocks in the form of lower prices. Spare capacity is found to be a reliable indicator of reduced prices through both periods whilst renewable energy is found to be an indicator of reduced prices especially in 1973-1982.
|Date of creation:||25 May 2015|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Molyneaux, Lynette & Wagner, Liam & Froome, Craig & Foster, John, 2012.
"Resilience and electricity systems: A comparative analysis,"
Elsevier, vol. 47(C), pages 188-201.
- Lynette Molyneaux & Liam Wagner & Craig Froome & John Foster, 2012. "Resilience and electricity systems: a comparative analysis," Energy Economics and Management Group Working Papers 15, School of Economics, University of Queensland, Australia.
- William F. Sharpe, 1964. "Capital Asset Prices: A Theory Of Market Equilibrium Under Conditions Of Risk," Journal of Finance, American Finance Association, vol. 19(3), pages 425-442, 09.
- Kruyt, Bert & van Vuuren, D.P. & de Vries, H.J.M. & Groenenberg, H., 2009. "Indicators for energy security," Energy Policy, Elsevier, vol. 37(6), pages 2166-2181, June.
- Harry Markowitz, 1952. "Portfolio Selection," Journal of Finance, American Finance Association, vol. 7(1), pages 77-91, 03.
- Eugene F. Fama & Kenneth R. French, 2004. "The Capital Asset Pricing Model: Theory and Evidence," Journal of Economic Perspectives, American Economic Association, vol. 18(3), pages 25-46, Summer.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:64568. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter)
If references are entirely missing, you can add them using this form.