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Electricity Economics: Production Functions with Electricity studies the production output from analyzing patterns of electricity consumption. Since electricity data can be used to measure scenarios of economic performance due to its accuracy and reliability, it could therefore also be used to help scholars explore new research frontiers that directly and indirectly benefits human society. Our research initially explores a similar pattern to substitute the Cobb-Douglas function with the production function with electricity to track and forecast economic activities. The book systematically introduces the theoretical frameworks and mathematical models of economics from the perspective of electricity consumption. The E-GDP functions are presented for case studies of more than 20 developed and developing countries. These functions also demonstrate substantial similarities between human DNA and production functions with electricity in terms of four major characteristics, namely replication, mutation, uniqueness, and evolution. Furthermore, the book includes extensive data and case studies on the U.S., China, Japan, etc. It is intended for scientists, engineers, financial professionals, policy makers, consultants, and anyone else with a desire to study electricity economics as well as related applications. Dr. Zhaoguang Hu is the vice president and chief energy specialist at the State Grid Energy Research Institute, China. Zheng Hu is a PhD candidate at the Center for Energy and Environmental Policy, University of Delaware, USA

Understanding the causal directions between electricity consumption (EC)/electricity production (EP) and Gross Domestic Product (GDP) is helpful for policymakers in order to design, redesign, and implement effective energy policies. Although there are many studies on this issue, no consistent conclusion exists. In this paper, we provide an updated analysis of such relationship for Mexico. We employ three causality tests and find no evidence of causal relation between EC/EP and GDP between 1965 and 2014. This has implications for the Mexican energy legislation liberalizing the electricity generation sector. Our results suggest that Mexican policymakers should consider enriching the bill by further designing policies that seek to promote enhanced generation output and capacity. © 2017 IEEE. ; Versión del editor ; Producción Científica de la Universidad de Panamericana

This study contains a simulation of a coal‐fired electric plant subject to multiple pollutant standards for SO2 and NOx. It shows that firms may not choose the lowest cost technology. The firm's cost‐minimizing choice is compared for three increasingly stringent standards: the 1990 Clean Air Act Amendments, the 1997 New Source Performance Standards, and the 2002 North Carolina Clean Smokestacks Act. The study finds support on cost‐benefit grounds for the 2002 North Carolina standard, which is the most stringent standard, but not for the 1997 NSPS. (JEL Q28, Q25, L94)

AbstractFuel substitution in OECD‐European electricity production is described by a putty‐clay formulation. At the time of investment, fuel shares are determined according to a logit model. These fuel shares are maintained throughout the lifetime of the power plants. However, a significant share of capacity is assumed to be flexible. Short‐term fuel switching is described by a logit model. An attempt has been made to formulate the model such that all parameters have a real‐life interpetation. This enables the use of a priori data about all parameters. The model gives a very good fit to historical time series for oil, gas, and coal demand when fuel premiums are calibrated. The most striking finding is that there is a strong preference for the use of coal. Because of the a priori data, the model is not very sample‐dependent. Thus, it should be well suited for policy studies or for predictions. The model should be used with caution if very high fuel prices are expected.

Over the years, demand for electricity has continued to grow while supply has consistently declined. The shortages of electricity supply formed the major background for energy crisis in Nigeria. The reason for this is that, all efforts are concentrated at generating electricity from only two major sources, namely: hydropower and gas. Therefore, this study investigated the effects of electricity consumption and its implications on industrial performance in Nigeria. Time series data were used for the study, sourced from the Central Bank of Nigeria Annual Report, Statistical Bulletin, Publications of the International Monetary Fund and the National Bureau of Statistics which spanned from 1981 to 2019. The study employed Fully Modified Ordinary Least Squares Method and Descriptive Statistics to carry out the empirical analysis. The findings revealed that a unit rise in industrial electricity consumption and exchange rate contribute to industrial performance by 9.4% and 44% respectively. This indicator only reflects marginal impact of industrial performance in Nigeria compare to other countries. However, a percentage increase in gross fixed capital formation and gross domestic product reduced industrial performance by 0.018% and 0.020%. Meanwhile, capacity utilization signed positive but not statistically significant. The study concluded that irregular electricity supply has weakened industrial performance in Nigeria despite various energy resources available. Therefore, the study recommended well rounded energy mix option through government policies to complement the existing energy sources available in Nigeria, as well, as other renewable energy resources for industrial sector and domestic use.