International Journal of Energy Economics and Policy <p><strong>International Journal of Energy Economics and Policy (IJEEP) </strong>is the international academic journal, and is a double-blind, peer-reviewed academic journal publishing high quality conceptual and measure development articles in the areas of energy economics, energy policy and related disciplines. The journal has a worldwide audience. The journal's goal is to stimulate the development of energy economics, energy policy and related disciplines theory worldwide by publishing interesting articles in a highly readable format. ISSN: 2146-4553</p> <p><strong>Ranking: 2021 SJR: 0.380<br /></strong><strong>23/68 Energy</strong>: General Energy (Scopus®)<br /><strong>2021 CiteScore: 4.1<br /></strong><strong>Editorial Board: 79 editors in 27 countries/regions</strong></p> en-US Submission of an article implies that the work described has not been published previously , that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication. (Ilhan OZTURK) (Ilknur Ozturk) Tue, 27 Sep 2022 14:50:48 +0000 OJS 60 The International Gas and Crude Oil Price Variability Effect on Indonesian Coal Mining Companies Listed at IDX <p>This study investigates the influence of gas price, crude oil price and international coal demand on coal sales volume, coal selling price, coal sales revenue, financial performance, business risk and stock price Indonesia coal mining is listed on Indonesia Stock Exchange (IDX). The sample is Indonesia coal mining companies listed on IDX in the period 2014 – 2018. This study employs a structural equation model using GeSCA software to examine the relationship and effect between research variables. The empirical result shows that Crude Oil Price has a significant positive effect on Gas Price and International Coal Demand, bidirectionally. Gas Price has a significant negative effect on International Coal Demand, bidirectionally. International Coal Demand has no significant positive effect on Coal Selling Price and Sales Volume. Coal Selling Price has not a significant positive effect on Sales Volume. Production Cost has a significant positive effect on Coal Selling Price. Coal Selling Price and Sales Volume have a significant positive effect on Sales Revenue. Coal Sales Revenue has a significant negative effect on Enterprise Risk. The originality of this study investigates a relationship between International Coal Demand, Coal Selling Price and Coal Sales Volume which has never been done in previous research.</p> Tri Wahyu Adi Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Users, Vehicles Electrics, and Energy Markets in Colombia <p>The Colombian government approved Law 1964 of 2019, which is expected to favor the massification of electric vehicle technologies. Since 2010, this technological migration has begun, which has not managed to have a substantial impact on the automotive sector. The research reviewed the industry's regulatory framework and identified variables that impact the market. Through the MICMAC methodology, they are evaluated to establish the key variables that can influence the other variables. The results obtained identify that the price of electricity and the lack of knowledge or business models are critical elements in improving the development of the electric vehicle sector. These results indicate that it is necessary to propose methodological changes to decrease the price of electricity and promote the development of business models so that users take an active role in the market.</p> Alejandro Betancur-Ramos, John Grimaldo-Guerrero, John William Grimaldo-Guerrero, Juan Rivera-Alvarado, Eilin Gómez-Mesino Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Iraqi Stock Exchange Reactions to the Oil price, Covid-19 Aftermath, and the Saudi Stock Exchange Movements pre-during Vaccination Program <p>The study attempts to understand the influence of Brent oil price per barrel (BOP), the general index of 30 stocks in Saudi Arabia (MSCI30), the number of Covid-19 new infected cases (NIC_19), ounce gold price (OGP), and US dollar base to Iraqi Dinar exchange rate (USD_IQD) upon Iraq stock exchange (ISX60) using the daily period (25 February 2020 to 15 July 2021) divided into three subperiod; whole period pre-during covid-19, pre-Covid-19 and during Covid-19 vaccination process. The results indicate the long-run relationship between the regressors and the Iraq stock exchange in the subperiod before Covid-19 and during the Covid-19 vaccination process but did not appear for the whole period pre-during the covid-19 vaccination process. The results reveal a positive influence of (MSCI30 and USD_IQD) on ISX60 in the long term for a period before the Covid-19 vaccination process. And, the results indicate a negative influence of (BOP and OGP) respectively on (ISX60) in the long term, and (MSCI30) positively leads ISX60 in the long term during the Covid-19 vaccination process. The results are crucial to governments, investors, and policymakers because the Iraqi economic movements and stock exchange development need more highlight in the further studies, especially the vaccine discovery consequences.</p> Zeravan Abdulmuhsen Asaad, Amjad Saber Al-Delawi Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Impact of Revenues from Oil and Non-Oil Sectors on the Economic Growth of Azerbaijan <p>The main purpose of the study is to determine the relationship between the revenues obtained from the oil and non-oil sectors of Azerbaijan, which is a country dependent on the oil industry, and its economic growth. The fact that Azerbaijan is an oil-dominated country and a large part of its exports consist of oil may have caused us to think that the share of oil in the country's incomes will be higher. However, the fact that the country generally exports oil in crude form and imports it ready-made affects the final result. In this study, the share of the oil and non-oil sectors in the economic growth of the country over a 20-year period is determined. Another aim of the study is to reveal how the earnings from these two different sectors affect the employment level of the country. During the study, the logarithm of the variables was taken and included in the analysis in order to measure the strong relationship between the data. According to the results obtained, the development of these sectors affects the decrease in unemployment levels and has be a positive result between the realized economic growth and oil revenues and non-oil sector revenues.</p> Nigar Huseynli Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 The Impact of Causal Factors Relationship over the Changes in Future Scenario Management under the Sustainability Policy of Thailand The objective of this research is to analyze the impact of causal factors relationship over the changes in future scenario management under the sustainability policy of Thailand by creating a model with validity called “Partial Least Square Path Modeling based on Autoregressive Integrated Moving Average with Observed Variables (PLS Path Modeling-ARIMAx). The results showed that the three latent variables (economic, social, and environmental) were found to be causal related. From the PLS Path Modeling-ARIMAx (1,1,1), it is characterized as the best linear unbiased estimator (BLUE) with highest performance, where mean absolute percentage error (MAPE) equals to 1.55%, and root mean square error (RMSE) equals to 1.97% upon comparing them to other models. If the government implements this model to define a new scenario policy by stipulating future total energy consumption (2020-2039) below the national carrying capacity, with minimal error correction mechanism and great impact on model relationship, the future CO<sub>2</sub> emission (2020-2039) is expected to drop a growth rate continuously. When a new scenario policy is determined, CO<sub>2</sub> emission was found to increase at a growth rate of only 8.95% (2020/2039) or by 78.99 Mt CO<sub>2</sub> Eq. (from 2020-2039) going below carrying capacity set off at 90.05 Mt CO<sub>2</sub> Eq. (from 2020-2039). The result is clearly different in the absence of the new scenario policy. Pruethsan Sutthichaimethee, Chanintorn Jittawiriyanukoon Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Does Oil Price Affect the Economic Growth in Somalia Asymmetrically? <p>Crude oil is one of the most important inputs for production activities, and an increase in its price has a crucial effect on economic growth both in developing and developed countries and Somalia is not an exception. To this end, this undertaking models the asymmetric impact of crude oil price on economic growth in Somalia using the nonlinear Autoregressive Distributed Lag (NARDL) model with annual time series data stretching from 1990 to 2018. The empirical results of the study revealed that oil price asymmetrically affects economic growth in Somalia both in the short and long runs. A positive oil price shock is inconsequential in the long run but impedes economic growth in the short run, while a negative oil price shock has a constructive role in stimulating economic growth in the long run but not in the short run. Nevertheless, the study suggests the implementation of economic diversification towards utilizing other types of energy other than oil and designing policies aimed at increasing energy investments.</p> Abdimalik Ali Warsame Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Investigating the Dependency between Electricity and the Human Development Based on Metaheuristic Optimization <p>Having access to electricity is one of the big challenges nowadays. It is a basic requirement for any community as it can improve the living standards characterized via the improvement of healthcare, education, and the local economy at large. Henceforth, electricity plays a major role in the economic and social development in many countries. The United Nations are working to ensure an easy access to safe energy technologies as from 2030. To cope with this point of view, this paper aims to use the relation between electricity and the Human Development Index (HDI) in order to predict the value of HDI in a short term. In this relation, two parameters x and y are used to study the dependency between the HDI and electricity consumption and production conjointly. To fulfill our goal, the values of electricity production, electricity consumption and HDI for a period are used into our optimization technique namely Particle Swarm Optimization (PSO). The best values of our parameters x and y are obtained under different scenarios based on three criteria: number of iterations, population, and limit of convergence. The results obtained after simulations leads to the value of HDI of about 0.68 in 2030, with 100 iterations, 100 populations and 0.05 as limit of convergence. The predicted value obtained is closed of the theoretical value presented into the Electricity Sector Development Plan. Thus, this helps to appreciate the impact of energy on the social and economic development of Cameroon.</p> Reagan Jean Jacques Molu, Wulfran Fendzi Mbasso, Serge Raoul Dzonde Naoussi, Saatong Tsobze Kenfack, Patrice Wira Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Dynamic Linkages of Carbon Emissions, Economic Growth, Energy Consumption, Tourism Indicators and Population: Evidence from Second-tier Cities in Thailand <p>Tourism is important and can generate economic growth for many countries, including Thailand. Since the government’s launch of the 55 Second-Tier Cities Tourism Destination Project, second-tier cities in Thailand have become tourist attractions. This study investigates linkages among carbon emissions, economic growth, tourism indicators, energy consumption and population in the 55 second-tier cities using annual data for the 2019-2017 period through panel dynamic ordinary least squares (DOLS), fully modified ordinary least squares (FMOLS), the autoregressive distributed lag (ARDL) method, the generalized method of moments (GMM) and Granger causality testing. The results show that energy consumption, per capita gross provincial product, the number of domestic and international tourists and the population size directly influence the carbon emissions level. The policy implications for second-tier cities include 1) increasing energy efficiency, for instance by installing alternative energy such as solar, wind and biofuel energy; 2) promoting loans with special interest rates to assist tourism entrepreneurs in providing energy-efficient products; 3) boosting public awareness of energy efficiency, energy savings and environmental pollution; 4) providing special funds and business tax refunds for those who reduce carbon emissions; 5) proactively promoting low-carbon tourism activity among tourists; and 6) introducing and enforcing environmental taxes.</p> Anuman Chanthawong, Therdchai Choibamroong Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Improving Photovoltaic Systems in Jordan Using TRIZ Principle - Overview and Case Study <p>Buildings, both residential and commercial, continue to be a major source of energy consumption in the world due to the escalating rate of global energy demand. Energy supplied to buildings through conventional means negatively impacts the environment. Due to its geographic location and climatic conditions, Jordan has a high solar energy potential. This encouraged using photovoltaic panels on building envelopes to produce electricity. One of the major problems facing this technology is the performance of the installed systems. In this context, this paper adapted the Theory of Inventive Problem Solving (also known as TRIZ) to improve the performance of photovoltaic systems; with less cost, less time, less installation place, and high output power. TRIZ principle was applied to a case study of an existing photovoltaic system in Jordan in order to study the impact of materials used in PV cells construction on a PV system's performance. The analysis of the results show the potential of increasing the energy produced by changing the material of the PV cells. Economic analysis was also carried out for the suggested PV systems.</p> Ahmad Sakhrieh, Jamil Al Asfar, Ahmad Ghandour, Ala’a Adel Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Decision-Making Support Framework for Electricity Supply in Non-Interconnected Rural Areas Based on FAHP <p>The implementation of electrification programs in non-interconnected rural areas in Colombia is a challenge for the country in order to reduce the social gap in these regions. This task is responsibility of the Mining and Energy Planning Unit (UPME), which has as challenges the implementation of renewable energy projects that allow diversifying the national energy matrix. For this reason, this paper proposes a support framework for multicriteria decision-making in the electricity supply of non-interconnected rural areas for the Colombian Caribbean Region. The multicriteria method of the Fuzzy Analytical Hierarchical Process (FAHP) was used, which allows the incorporation of a fuzzy triangular scale to improve the imprecision in the judgments made by experts. A hierarchical structure with 6 renewable energy alternatives, 4 criteria and 16 sub-criteria was designed, which allowed the implementation of a paired comparison survey that was answered by 10 experts from the region. The results obtained show the relevance of all alternatives, which is evidenced by a percentage difference of less than 5% between all the options. The best alternative was solar PV (20,27%). Regarding the criteria, the most relevant were economic (39,6%) and environmental (30,8%). The most relevant sub-criterion was the renewable fraction, related to the possible reuse of equipment (20,2%).</p> Christian Moreno, Adalberto Ospino-Castro, Carlos Robles-Algarín Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Measurement of the Rebound Effect on Urban Household Energy Consumption Savings <p>This research investigated consumer behavior patterns on energy conservation and energy efficiency. We investigated the factors that influence the rebound effect based on common characteristics and Socio-economic household characteristics in urban communities. This paper also explored the conservation of electricity through the idea of "nudge." The authors used the word "encouragement" in the chosen architectural program, designed to reduce household electricity consumption so that the rebound effect did not occur in household consumption. By utilizing the 'social norms and curtailment,' households given a "nudge" can save more on their electricity consumption costs. The condition of "nudge" that we included was through information on the costs incurred by households, 'social norms and curtailment,' and energy efficiency through replacing conventional lamps with energy-efficient lamps. The research took place in urban areas in the Bantul, Jogjakarta, between December 2021 and April 2022. Sixty-two respondents divide into two groups of households, i.e., observe households (self-selected) and control households (randomly selected). Both observe and control households must have an active electricity account for at least one year and have owned a house between 50 and 200 square meters. The model used a t-paired sample through the "Non-Equivalent Groups Design" (NEGD) framework for the two comparisons. The research found that 'social norms and curtailment' can reduce household electricity consumption, has cost savings over electricity consumption on average to 16.3049% for three months, and no rebound effect on savings happened.</p> Eka Sudarmaji, Sri Ambarwati, Mira Munira Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Impact of Electric Vehicle Adoption on Electricity Consumption and Generation: Evidence from California <p>The market share of electric vehicles (EV) is growing in the USA, and there are substantial numbers of federal, and state-level incentives for EV consumers. These incentives are in place primarily due to environmental concerns. This study focuses on two interrelated aspects of EV adoption. First, using monthly county-level data from 2010 to 2019, this study reveals that electric vehicles and their supportive infrastructures, such as charging stations, have a significant effect on residential and commercial electricity consumption in California. Second, analyzing electricity generation information by county, this study finds a significant negative relation between electricity usage and the share of electricity that comes from renewable sources. Although EVs emit lower pollutants than conventional vehicles, they require a significant amount of electricity for charging. If the electricity generation doesn’t involve renewable or cleaner sources, public spending on EV may not contribute to a cleaner environment as much as expected.</p> Atia Ferdousee Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Does Financial Development Lower Energy Intensity in India? <p>Although the relationship between finance and growth is gaining significant attention, little is known about how financial development indicators affect energy intensity in emerging nations. Given the complexity of the growth effects of financial development and energy intensity dynamics, the present paper investigates the effect of financial development and economic growth on energy intensity in India using Autoregressive Distributed Lag (ARDL) bounds testing approach. The result indicates that financial development indicators and economic growth had a long-run relationship with energy intensity. Besides, the empirical results reveal that financial development and economic growth had a negative and significant impact on energy intensity in the short and long-run, inferring that financial development and economic growth lower energy intensity in the country. The findings are helpful for India's policymakers in order to maintain the complementarity between financial development and energy intensity.</p> M. Tamilselvan, Srinivasan Palamalai, S. Manikandan, Manjula Veerabhadrappa, Vinod Repalli Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Relationship Between Geopolitical Risk In Major Oil Producing Countries and Oil Price <p>This study has applied Granger causality tests and dynamic ordinary least squares (DOLS) models to examine the relationship between geopolitical risk in major oil-producing countries and the crude oil price before and after the 2008 financial crisis. The granger causality tests show that the geopolitical risk of Saudi Arabia, Russia, the United States and China granger cause changes in crude oil prices. The DOLS models show that the series in the model are cointegrated. The coefficients for the geopolitical index of Canada, Russia and China are significant before the 2008 financial crisis sample period. However, the DOLS model shows that the coefficients for all geopolitical indexes are insignificant after the 2008 financial crisis sample period. The general public and investors generally precept major oil exporters like Russia and Saudi Arabia as the major players in the oil market. However, after the 2008 financial crisis, the discrepancy in the economic needs of the major oil-producing countries has reduced their ability to co-operate crude oil prices. This study also discovered that China plays a significant role in the oil market.</p> Tin Hei Alpha Yuen, Wai Kee Thomas Yuen Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Integration of Lean Methodology and Energy Management in Wooden Industry <p>The application of Lean thinking to energy management is the methodology based on the application of the Lean values and the principles of wastes elimination of Lean system. One is then challenging and questioning why a process is using the amount of energy that it does and why it is using energy during non-production hours. One strives to continuously improve and reduce the energy used by implementing improvement ideas. Todays, the pressure of competition in the energy sector is very high. A enterprise that wants to make a difference should continuously run optimization from the production lines. The objective of this study is to measure the impact of Lean tools on energy consumption and energy efficiency improvement. Through a case study, authors point out changes in production and energy efficiency before and after implementing &nbsp;improvement (Kaizen) projects. Besides, this paper illustrate the framework of Lean tools application into energy sector as a guideline for energy efficiency management in industrial enterprises</p> Tran Le Phong, Nguyen Dat Minh Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Research Trends of Waste Heat Recovery Technologies: A Bibliometric Analysis from 2010 to 2020 <p>Waste heat recovery (WHR) technologies have become vital to promote efficient operation in energy systems. The present investigation presents a bibliometric analysis of the research trends in the WHR field in the last decade (2010-2020). The study implements advanced methodologies to gather relevant information for interested readers on this topic. Results indicated that WHR technologies have registered more than 14,000 articles in the selected timeline with an increasing tendency. Moreover, the number of citations escalated to more than 25 % in 2020, using 2010 as the baseline.&nbsp; Three primary research clusters stated that power cycles are the most cited topic in the WHR field. The journal “Energy” featured the highest citation margin, whereas the most relevant author from the database was Adrian Bejan. Lastly, China is leading the progress in the number of articles and subsequently the citation score, which is primary promoted by the “Chinese Academy of Science”. The study identified that the reduction of citations of WHR topics in the last 5 years might be primarily attributed to a transition in a more complex concept of multigeneration.&nbsp; In conclusion, the area of WHR technologies has maintained an increased interest in academia in the last 10 years while contributing to the exploitation of power cycle proposals, turbomachinery, heat exchangers, among others. Also, WHR plays a central role in the development of the next generation of multigeneration units.</p> Alfonso Rodríguez Pena, Daniel Maestre Cambronel, Guillermo Valencia Ochoa, Lisandro Vargas Henríquez Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Electricity Price Increases and Energy Demand: The Case of an Electricity Supplier in South Africa <p>South Africa (SA) experienced electricity supply and demand challenges since the first load shedding crisis in 2008, which also resulted in drastic price increases during the period 2009 - 2018. This study aimed to investigate the impact of price increases on the demand for electricity supplied by one of South Africa’s largest electricity supplier in Johannesburg, South Africa, namely, City Power. An on-line survey was conducted using QuestionPro, to collect data from a random sample of 107 respondents stratified as residential, commercial and industrial customers. Although the impact of the electricity price increases differed across customer segments, all customers were of the view that energy conservation is necessary to protect the national grid from total collapse. A key finding was the interest shown by the different customer segments in investing on renewable and alternate energy sources to counter the electricity price increases. Thus, City Power should invest in generating its own electricity to reduce over-reliance on Eskom which is the national state-owned electricity generator and supplier. City Power should also consider investing in renewable energy sources, but this will require the SA government to change current energy policies and guidelines.</p> N. S. Nkosi, Krishna K. Govender Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Public Debt – Energy Consumption Nexus <p>As energy demand has risen and continues to rise, a growing body of research examines the impact of a variety of factors on energy use, including economic development, price changes, and international trade. The public debt–energy consumption nexus, on the other hand, has received little attention. This study looks at the effect of government debt on both renewable and nonrenewable energy usage in 17 OECD countries from 1980 to 2020. Using the Generalized Least Square (GLS) panel data estimation method and Panel Quantile Regression (PQR), this paper finds that public debt has a favorable influence on the utilization of renewable energy and a detrimental influence on the use of non-renewable energy. It can be noticed from the PQR that all variables have more favorable impacts on renewable and nonrenewable energy usage at higher quantiles.</p> Engy Raouf Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 The Impact of Digital Transformation in the Accounting System of Fuel and Energy Complex Enterprises (International Experience) <p>The global fuel and energy market occupies a significant position in international trade, which encourages companies in the industry to carry out a digital transformation in the supply chain and accounting of related transactions. Digital transformation occurs through the introduction of modern information technology, which leads to increased productivity at all stages of the supply chain in the fuel and energy sector and simplified accounting of transactions. Positive processes are characterized by the convergence of markets, and negative processes are characterized by the fragmentation of energy markets and their isolation at the national level. To solve these problems in the field of accounting, it is necessary to constantly improve ERP systems based on the creation of a unified ecosystem of the fuel and energy sector. The world practice of using Enterprise Resource Planning products in the fuel and energy sector is considered. Based on the trend and structural analysis world oil and gas imports have been investigated to determine the dynamics and geographical structure of the fuel and energy market. The forecast of the dynamics of oil imports is made. The article proposes a functional model of the supply chain in the energy sector based on blockchain technology. The article defines digital technology with a focus on blockchain and artificial intelligence. The process method is used in the formation of an invoice generation model. The advantages of ERP systems are identified and global experience in invoice generation in accounting is summarized. The OpenText Vendor Invoice Management (VIM) software product is characterized, allowing its integration with the SAP ERP invoice accounting and payment system. The main issues of digital transformation in the accounting system, stimulating the improvement of specialists' competencies when working with digital platforms, are identified.</p> Zakharkina Liudmyla, Rubanov Pavlo, Alibekova Balsheker, Zakharkin Oleksii, Moldashbayeva Luiza Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 A Simulated Policy towards Green Public Transportation in a Metropolitan in Indonesia <p>The need for mode of transportation is proportional with urban population growth. The dependence of people using private transportation causes many problems. In addition to congestion, it can create environmental problems such as air quality deterioration and pollution in the cities. Learning to be in this research is the process of individual learning to move from private transportation to public transportation. The purpose of this study is to predict and opportunities for private decision using the public transportation toward green transportation in Semarang city. This research is designed using a quantitative approach. Respondents in this study were workers. Data collection methods with questionnaires. The samples are collected using proportional sampling technique. Data are analyzed with binary logistic regression. The results showed that the accessibility and tariff variables are significantly influence to predict private decision for using public transportation as an effort toward green transportation. Based on the policy simulation, the opportunity of using public transportation will be higher if the distance is closer and reachable. It will be getting lower if the tariff is raised when the other variables are constant. Therefore, to influence private decisions using the public transportation, the government must be oriented towards reachable distance and tariff.</p> Amin Pujiati, Indri Murniawaty, Dyah Maya Nihayah, Innal Muarrifah, Nadia Damayanti Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 The Economic Price of Liquid Petroleum Gas, Poverty and Subsidy Removal Compensation Scenario in Indonesia <p>Indonesia is one of the countries with the largest population in the world, implicating the higher energy needs for consumption. LPG is one of the most important energies consumed by the majority of Indonesians since 2008. There is a programme for LPG in Indonesia, namely the LPG subsidy price. However, it is not implemented accurately in order to keep Indonesians, particularly those living below the poverty line able to purchase LPG. The purpose of this research is to determine the relationship between the economic price of LPG and poverty, as well as the subsidy removal compensation in Indonesia. Vector Auto Regression (VAR) first difference was applied in this research, and the findings show that statistically LPG economy prices have a unilateral relationship with a significant impact on poverty. Two subsidies removal compensation scenarios result shows that approximately subsidy of minimum IDR 52 thousand per month will keep the poor beneficiaries just above the poverty line. There is a potential government saving per year for LPG subsidies removal.</p> Eddy Prabowo, Harianto, Bambang Juanda, Dikky Indrawan Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Analysis of Some Variable Energy Companies by Using VAR(p)-GARCH(r,s) Model : Study From Energy Companies of Qatar over the Years 2015–2022 <p>In this study, the nature of the weekly stock price relationships of several Qatar energy companies, namely the weekly stock price of Qatar Fuel Company (QFLS), Qatar Gas Transport Company (QGTS), and Qatar Electricity and Water Company (QEWC), will be discussed. The duration of data weekly stock price is from January 2015 to April 2022. This study aimed to obtain the best model for the weekly stock price relationship of the three companies QFLS, QGTS, and QEWC. The multivariate time series analysis method will be used to evaluate the data. From the analysis using multivariate time series modeling, the best model is VAR(3)-GARCH)(1,1). Based on this best model, further analysis is carried out, namely Granger causality, impulse response function (IRF), and forecasting for the next 12 periods. The Granger causality test found that the QFLS has Granger causality on the QGTS (unidirectional), while the QGTS and QEWC variables have bidirectional Granger causality. The IRF analysis indicated that if there is a shock of 1 standard deviation in QFLS, then QFLS and QEWC will fluctuate for the first six weeks and move toward equilibrium from the seventh week onwards, while the impact on QGTS can be ignored. Suppose there is a shock of 1 standard deviation in the QGTS. In that case, the QFLS and QEWC will respond by fluctuating for the first six weeks, and at the seventh week and move toward equilibrium, while the impact on QGTS can be ignored; and if there is a shock of 1 standard deviation in QEWC, then QFLS and QEWC will respond negatively and fluctuating for the first six weeks, and at the seventh week toward equilibrium, while the impact on QGTS is negligible. Forecasting for the next 12 periods shows that the farther the forecasting period, the larger the standard error. This indicates that the ffarther the period is, the more unstable it is.</p> Mustofa Usman, M. Komarudin, Munti Sarida, Wamiliana Wamiliana, Edwin Russel, Mahatma Kufepaksi, Iskandar Ali Alam, Faiz A.M. Elfaki Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Analysing Time-frequency Relationship between Oil price and Sectoral Indices in India using Wavelet Techniques <p>Oil is considered an essential factor of any economy. This paper examines the time-varying correlation between oil price return, BSE SENSEX, and 14 sectoral indexes in India using multiscale wavelet decomposition and wavelet coherence analysis. The maximal wavelet discrete wavelet transform analysis shows a feedback relationship between 13 sectors at higher time horizons (dC<sub>4</sub>, dC<sub>5,</sub> and dC<sub>6</sub>). Based on the wavelet coherence plot, the oil price and sectoral index return show a high co-movement at 32 to 128 weeks. The wavelet coherence plot shows that the oil price and sectoral index return show a high co-movement during the period of Mar-May 2020 (especially during the period of financial crisis widely spread due to the COVID19 pandemic and nationwide lockdown notification announced by the Government of India). We discuss the implications of these studies in detail.</p> Koushik Mandal, Radhika Prosad Datta Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Analyzing the Impact of Inward FDI and Economic Growth on CO2 Emissions of Ukraine <p>The study investigated the impact of foreign direct investment and economic growth, upon carbon emissions of Ukraine. The annual data for the study has been extracted from the World Bank Development Indicators for the period 1990 to 2019. The study variables are foreign direct investment, economic growth, and carbon emissions. We started our analysis based on the autoregressive distributed lag (ARDL) model as being use quite extensively in the existing literature. However, we faced the issue of multicollinearity, then we applied the Ordinary Least Square technique and system generalized method of moments as alternative estimation techniques. The main analysis is based on the Ordinary Least Square technique, whereas robustness has been carried out under the system’s generalized method of moments. Both estimation techniques confirmed the significant and positive relationship between our study’s variables. The results indicate that in Ukraine the inflows of foreign direct investment and economic growth have led to higher carbon emissions.</p> Farrukh Nawaz Kayani, Misbah Sadiq Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Falling Utilization Factor of Thermal Power Plants in India and Its Financial Impact <p>Thermal power plants in India are operating under very low Utilization Factors. The average national Utilization Factor of coal based thermal power plants was 77.5 % % in 2009-10 which has come down to 53.37 % in 2021-22. Many studies and reports indicate that, in the business-as-usual situation, average Utilization Factor may drop to 40% in next 2-3 years. This situation has arisen partly because of substantial injection of renewable energy in the grid. Since the renewable energy provides intermittent supply, thermal plants have to dance to the tune of renewable energy in order to sustain the grid stability. These thermal plants have to therefore ramp-up and ramp-down load several times a day. It is one of the major causes for overall low Utilization Factor. The situation is now putting immense technical and financial pressure on the thermal plants. Regulators, policy makers, power plant developers, lenders and other key stakeholders need to take notice of it. In this paper, we explore the direct financial impact on the Profits / Return on Equity (ROE) of thermal power plants under these circumstances. We find that under the regulated tariff regime, thermal power plants may see a reduction in Return on Equity (ROE) to the tune of 26 % if average Utilization Factor drops from a level of 90 % to 35 %.</p> Alok K. Tripathi, Neeraj Anand Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Reinvestigating the Presence of Environmental Kuznets Curve in Malaysia: The Role of Foreign Direct Investment <p>Over the past forty years, Malaysia has achieved tremendous economic growth because of higher investment from foreigner such as from China, Japan, and US. Many multinational companies (MNC) have allocated their factories especially in more developed state such as Selangor, Penang and Johor to focused on their operation. The country able to receive various benefits from this investment in the form of job creation, advancement in technology, better income distribution and at same time, some negative externalities such as environmental degradation can also take place from those operation. Given this situation, it is interesting to investigate the current state of sustainable development for Malaysia by considering the impacts of FDI. This paper focused on investigating the presence of Environmental Kuznets Curve (EKC) as well as Pollution Haven Hypothesis (PHH) for Malaysia using a latest annual dataset for the period 1971 until 2019. The study used Bound test to determine the impact of FDI and other selected macroeconomic variables on environmental quality proxied by Carbon emission (CO2). The outcomes shows that the country showcased the U shaped of EKC and higher FDI inflows has worsening the country’s environmental pollution. These outcomes posit a bad alarm for the policymakers of the country to be more aware on the consequences of development that cause higher carbon emissions release and how MNC in the country contribute more emissions with make the scenario worsen. Heavy environmental rules should be imposed to foreign investors and the country need to be directing their economic development by following the principles set out by United Nation in pursing sustainable development.</p> Abdul Rahim Ridzuan, Vikniswari Vija Kumaran, Bayu Arie Fianto, Mohd Shahidan Shaari, Miguel Angel Esquivias, Aliashim Albani Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Welfare over Warfare? Russia’s War on Ukraine through the Prism of Europe’s Energy Security <p>The outbreak of war by the Russian Federation in Ukraine on 24 February 2022 not only took world public opinion and politicians by surprise but, above all, demonstrated in all its glory the strong network of political and economic ties in Europe and far beyond the old continent. The attitudes of individual governments and entire societies, particularly in Europe, towards Russian aggression, differ fundamentally. These differences can most simply be explained in terms of economic and political dependence on Russian gas or proximity to the Russian Federation or its dependent countries like Belarus, which mark sharp dividing axes. In this paper, using a survey commissioned by the European Council on Foreign Relations in ten European countries as an example, I will highlight public attitudes towards the war in Ukraine and their potential impact on the policies of individual governments. The interventionist viewpoint presented in this article suggests that general welfare shapes not only public attitudes towards the war but also impregnates specific governmental positions. In the context of the large European economies, this could significantly yet negatively impact Ukraine's financial and military support in the coming months.</p> Mariusz Baranowski Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Review and Assessment of Energy Policy in the Economic Community of West African States region <p>The ECOWAS region has one of Africa's highest potentials for energy production, including both non-renewable (oil, gas, and uranium) and renewable sources (hydroelectric, solar energy, wind energy). Despite this significant potential, the region deals with a number of issues that affect its energy strategy. A review and analysis of the social, political, and economic factors influencing regional energy policy are provided in this paper, along with an assessment and forecast of energy policy in the ECOWAS. The analysis of regional energy policy then takes into account demand management, clean energy production, regional energy trade, and hydrocarbon exploration and production. The results show that the ECOWAS nations have started their transition to a renewable energy-based economy. These policies have long-term implications on the world's energy system and have the potential to improve the region's energy policy, even if the consequences are not immediately noticeable.</p> Herve Tevenim Mewenemesse, Qiang Yan Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 The Nexus among Civil Aviation, Energy Performance Efficiency and GDP in terms of Ecological Footprint: Evidence from France and Finland <p>The major goal of this research paper is to determine the long-run linkage among variables and the impact of civil aviation, energy productivity (efficiency), economic growth (GDP), on ecological footprint through conducting the multivariate regression method, Phillips‑Ouliaris and Engle‑Granger, Jarque – Bera Normality, and Cusum tests from 1970 to 2020. According to results of multivariate regression method, civil aviation, energy efficiency, and economic growth affect the ecological footprint from 1970 to 2020 in France which is coincide with Phillips‑Ouliaris and Engle‑Granger tests. On the contrary, there is no effect of independent variables on dependent variable (ecological footprint) in Finland which is consistent with Phillips‑Ouliaris and Engle‑Granger tests. In this respect, The long-run relation of the model is verified by the cointegration test of Engle-Granger and Phillips-Ouliaris for France. However, there is no long-run co-integration among variables for Finland from 1970-2020. To sum up, empirical results of France is verified EKC hypothesis. However, EKC hypothesis is not verified for Finland.</p> Erdal Dursun Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Analyzing the Environmental Kuznets Curve Hypothesis in terms of Airplane Transport: Empirical Examination for Baltic States <p>The main goal of this paper is to investigate the long-term nexus among energy consumption, economic growth, civil aviation, and CO<sub>2</sub> emissions by performing the ARDL, DOLS and Panel data analysis for Baltic countries including Estonia, Finland, Latvia, and Lithuania from 1992 to 2021 within the context of EKC hypothesis. The long-term ARDL and DOLS models result indicate that there is a statistically significant relationship between the air transport, CO<sub>2</sub>, GDP, and energy consumption for Estonia from 1992 to 2021. On the other hand, the impact of independent variables containing air transport, GDP, and energy consumption on CO<sub>2</sub> emission is demonstrated empirically from 1992 to 2021 which is affirmed the EKC hypothesis for Baltic countries through panel data analysis. According to empirical findings, legal arrangements should be made for the production and use of alternative fuels by policy makers in order to provide economic and social benefits in terms of reduction environmental pollution. Low-emission fuels and hybrid or electric vehicles must be used to reduce carbon dioxide emissions as a solution for environmental degredation in Baltic countries.</p> Seda Bahadır Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Electricity Tariff Design “Theoretical Concepts Vs Practices”: Review of Tariff Design Approaches in East Africa - Case Studies of Rwanda, Kenya, Uganda and Tanzania. <p>This paper presents a comparative analysis between the theoretical concepts of tariffs design methodologies and tariff design practices in developing countries especially in East African countries including Rwanda, Tanzania, Uganda and Kenya. The theoretical concepts impose regulatory principles to be followed by the utilities for a fair and efficient tariff. A well-defined and appropriate tariff structure must balance the financial sustainability of the sector on the one hand and the well-being of various segments of society on the other. Even if utilities in regulated markets, especially in East African Countries are currently supposed to apply dynamic pricing models, their governments are still providing significant subsidies and this can create operational inefficiencies. In addition, inappropriate dynamic pricing models can lead to cross subsidization between customers which violate the equity or non-discrimination principle of a good tariff which discourages use by the overcharged and promotes overconsumption by the subsidized. The work presented in this paper evaluate the performance of different methodologies used by developing countries to set electricity prices against the theoretical concepts of electricity dynamic pricing. It also highlights the opportunities and challenges to be addressed in order to set efficient and appropriate tariffs. The conclusion and policy recommendations are provided.</p> Daniel Mburamatare, William K. Gboney, Jean De Dieu Hakizimana Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 A Sustainable Way to Generate Energy through Biomass Flash Pyrolysis in South Asia: A Green Energy Technology <p>Asian Countries mostly lying in Subcontinent region are the main producers of Sugar canes. On the other hand, these are the developing countries which mostly face potential energy crisis which ultimately gives rise to sustainable electricity demand challenges. This challenge can be mitigated through the conventional way of bagasse-based cogeneration of power. Therefore, sugar industries can contribute in fulfilling at least their own requirement of plant electricity. But this method in turn produces carbon dioxide (CO2) to the environment which is a major source of Green House Gas (GHG) emissions globally. So, it is the most significant contributor to the global warming, which plays diverse impact on social, environmental, and economic costs. So far, the increasing concentrations of GHGs in the atmosphere are a notable issue. Biochar is one of the products of flash pyrolysis which reduces the GHG emissions and enhancement of soil fertility. This paper proposes flash pyrolysis as a sustainable way of meeting electricity demand with additional benefits over conventional way of burning bagasse in cogeneration, giving the environmental and economic benefits of pyrolysis. Bagasse gasification by flash pyrolysis in the sugar mills could be an alternative option for electricity generation with CO2 negative impact.</p> Rabia Noor Enam, Muhammad Tahir, Huma Hasan Rizvi, Asim Rafique, Syed Muhammad Nabeel Mustafa Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Modeling and Governance of the Country’s Energy Security: The Example of Ukraine <p>The research addresses the improvement of the methodology to evaluate the energy security through theoretical-methodological substantiation, development, and calculation of the integral index of its competitiveness for a country on the example of Ukraine. Establishing an efficient energy security (like a component of national security) system is a crucial issue in the current military-political situation in Ukraine. The global economic crisis and military aggression of the Russian Federation against Ukraine and the imposition of sanctions against it by European states have led to a deterioration in energy security of many energy-dependent EU countries. That is why the methodology of energy security calculations should be adapted to modern military-political instability conditions. The article aims to analyze active methods of state energy security in Ukraine and in the world. The authors’ methodology to calculate the integral index of energy security is suggested.&nbsp; Indicators of energy security include energy production, energy export, domestic consumption, capital investment in energy, etc. Every component of energy security will have factors of Russia’s war influence, which anyway in conclusion will correlate with the integral index of energy security. Integral indicators of energy security maintenance on the example of Ukraine.</p> Alina Yakymchuk, Oksana Kardash, Nazariy Popadynets, Valentyna Yakubiv, Yuliia Maksymiv, Iryna Hryhoruk, Taras Kotsko Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Applying the Theory of Planned Behavior to Analyze Household Energy-Saving Behavior <p>Energy consumption in residential areas is increasing which leads to greenhouse gas emissions and environmental pollution. Household energy-saving behavioral intentions are diverse and influenced by many different factors. This study approaches the theory of planned behavior (TPB) with an integrated perspective (economic-oriented, technology-oriented, and behavior-oriented perspective) to demonstrate affecting factors to the energy-saving intention of households in Vietnam. Applying the structural equation modeling (SEM), the study has pointed out the above affecting factors include subjective norms, perceived behavioral control, perceived benefits, attitude, product quality, and energy policies. In which, the “perceived benefits” factor has the most impact on the energy-saving intention of households.</p> Quoc Nghi Nguyen, Thi Hong Loc Hoang, Van Nam Mai Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 The Link between Economic Growth and Sustainable Energy in G7-Countries and E7-Countries: Evidence from a Dynamic Panel Threshold Model <p style="font-weight: 400;">The available literature on sustainable energy use and economic growth nexus yields conflicting conclusions, as the effect can be positive, negative, or insignificant. This research explores the causal link between sustainable energy use and economic growth in G7-countries (Japan, Canada, Germany, Italy, France, United Kingdom, and United States) and E7-countries (Russia, Brazil, Indonesia, China, Mexico, India, and Turkey) countries from 1990 to 2019. We discover that sustainable energy use and economic growth are proportional. Our results show that sustainable energy use positively affects economic growth if E7-countries exceed a specific threshold. It is detrimental to economic growth for the E7 countries' sustainable energy use to fall below a certain threshold. The use of sustainable energy has no significant impact on economic growth, although it does have a positive and noticeable impact in the G7 countries. In order for the countries of the G7 to see positive economic growth as a result of their investment in renewable energy, it is necessary for those nations to surpass a certain threshold in terms of their use of sustainable energy.</p> Najia Saqib, Haider Mahmood, Aamir Hussain Siddiqui, Muhammad Asif Shamim Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Renewable Energy (Solar and Wind) Generation and its Effect on some Variables for Selected EU Countries with Panel VAR Model <p>Keeping the world livable, the policy makers are giving their extended focus on green energy. They are trying to move on hand-on-hand with rising green energy and lessening carbon dioxide (CO2) emission steading the economic activities specially for the open and developing countries. This can be helpful to provide a more lucrative economic environment to meet the extended demand of the society. The paper highlights to find out whether the economic growth, renewable energy consumption, fossil fuel-based energy generation and CO2 emission are significantly impactful on renewable energy generation or not? Is there any mutual, bi-directorial, unidirectional relationship with each other? For this, the Vector Autoregression (VAR) model is run. The paper focuses on six EU countries who are practicing auction scheme for deploying robust green energy (especially solar and wind) by reducing dependency on fossil fuel and expanding their economy with less CO2 emission. The result of the analysis shows that a positive influence of each concern variable on renewable energy (RE) generation and auction scheme might have a significant impact if robustness of the generation occurs. </p> Shahi Md. Tanvir Alam Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Economic Impact of Renewable Energy on Sustainable Development in Saudi Arabia <p>This paper studies the asymmetric relationship between renewable energy consumption and economic growth incorporating capital and labor for the case of Saudi Arabia during the period 1990-2019. The nonlinear lagged cointegration (NARDL) model is applied to examine the asymmetric cointegration between the variables. The results indicate that there is an asymmetric relationship between the variables considered. The negative labor shock improves economic growth, while a positive shock reduces (increases) economic growth in the short term. Therefore, policies to promote economic growth, such as the need to improve the quality of financial development and preserve fiscal sustainability, are crucial to improve the renewable energy sector in Saudi Arabia. At the same time, it is essential that the renewable energy sector must also be oriented towards productive development projects.</p> Houcine Benlaria, Abu Alhassan Jumaa Hamid Hamad Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Testing the EKC Hypothesis in terms of Trade Openness, Industrial and Construction Development: Evidences from Northern European and Latin American Countries <p>The main research objective is to examine the long-run relationship between trade openness, industrial &amp; construction development, economic growth, energy consumption, and ecological footprint by performing the Westerlund co-integration, FMOLS, DOLS, and CCR tests for Northern European (Denmark, Finland, Netherlands, Norway, and Sweden) and Latin American Countries (Argentina, Brazil, Chile, Colombia, and Uruguay) from 1980 to 2018. Considering the FMOLS, DOLS, and CCR test results of Northern European countries the EKC hypothesis is not confirmed for Finland, Norway and Sweden except Denmark and Netherlands. There is a long-run relationship among industrial &amp; construction development, economic growth, and ecological footprint for both Denmark and Netherlands which verifies the EKC hypothesis from 1980 to 2018. When the remaining countries are examined, the results are opposite. There is no long-run relationship among relevant variables for Finland, Denmark, and Sweden from 1980 to 2018. Besides, there is no effect of industrial &amp; construction development, economic growth, energy consumption, and trade openness on ecological footprint for Finland, Denmark, and Sweden from 1980 to 2018. The EKC hypothesis is not confirmed for Latin American countries as well. Similar results are obtained by using the same variables and other models including FMOLS, DOLS, and CCR for all Latin American countries. The pollution problem in question is of particular concern to developed countries. Because, these countries are forced to use heavy industry, which is far from the nano-technological industry structure and has high environmental degradation. In this context, Denmark should build an artificial island as a precaution against the climate crisis. Another main recommendation is Dutch government should build hydrogen heated homes in order to wage a fight against air pollution.</p> Yunus Emre Kayabas Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Climate Change, Poverty and Income Inequality Linkage: Empirical Evidence from Nigeria <p>There seems to be a vicious cycle between climate change and income inequality. Hence, this study examined the existence of a feedback relationship between climate change and income inequality in Nigeria. The study employed an annual data series for the period from 1980 to 2020. Income inequality was measured by Gini while climate change was captured by temperature. The upshot of the study revealed that there is a feedback substantial connectivity between climate change and income inequality. The impact of climate change on income inequality conformed to the U-shaped hypothesis. Other factors of climate change were population growth, economic development, and emission of carbon dioxide. Hence, the study pertinently advocates and recommends effective population control, reduction of income inequality through the provision of employment and education, and the supply of modern and efficient energy in the purse of economic growth and development.</p> Evelyn Nwamaka Ogbeide-Osaretin, Bright Orhewere, Oseremen Ebhote, Sadiq Oshoke Akhor, Israel. O. Imide Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Do Financial Development and Trade Liberalization Influence Environmental Quality in Indonesia? Evidence-based on ARDL Model <p>The deepening of financial development and trade liberalization has been taking place in Indonesia since the Association of Southeast Asian Countries (ASEAN) formed in 1967. As a result, Indonesia experienced substantial growth in various economic sectors. However, this growth could also bring a negative externality such as environmental degradation to this country. This research paper investigated how financial development and trade liberalization could affect the country’s environmental quality. This research utilized the time series approach, such as the Autoregressive Distributed Lag Model (ARDL), to test the determinant of environmental quality for Indonesia based on selected macroeconomic determinants with special emphasis on financial development and trade liberalization. The study used annual data from 1971 until 2020, which spans about 50 years. Based on the main outcomes, deepening financial development helps to improve environmental quality. However, at the same time, higher trade liberalization has caused greater environmental degradation. Therefore, the policymakers must ensure that more financial institutions in the country support their government in promoting sustainable growth by giving more loans to companies that promote using clean energy for development purposes. Besides, the country should monitor more closely any heavy industries such as chemicals production that operate to meet the demand for the oversea market by ensuring strict rules are enforced to avoid any negative externalities to the environment.</p> Abdul Rahim Ridzuan, Bayu Arie Fianto, Miguel Angel Esquivias, Vikniswari Vija Kumaran, Mohd Shahidan Shaari, Aliashim Albani Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Energy Consumption as a Measure of Energy Efficiency and Emissions in the MENA Countries: Evidence from GMM-Based Quantile Regression Approach <p>Efficient efficiency of energy resources has been shown to have positive effects on both GDP growth and GHG emissions. While the negative effects of climate change and pollution continue to worsen, there has been a global slowdown in the rate at which energy efficiency is improving. In the Middle East and North Africa (MENA), carbon dioxide (CO2) emissions can be considerably influenced by economic and energy&nbsp;consumption. Therefore, the purpose of this research is to apply the generalized method of moments based on a quantile regression approach (GMMQR) to data for CO2 emissions, energy efficiency, real income, and research and development in MENA from 1990 to 2021 in order to determine the factors that determine CO2 emissions under the environmental Kuznets curve (EKC) framework. Overall, the data showed that energy efficiency had a 3.2% impact on emissions reduction across all quantiles. In order to achieve their goals of lowering emissions and strengthening energy security, MENA states must increase the efficiency with which they use petroleum. Energy efficiency policies may have rebound effects, which might reduce their efficiency, according to this study.</p> Bashar Younis Subeih Alkhawaldeh, Hussein Ali Al-Zeaud, Mohammad Nassar Almarshad Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 The Effect of Electricity Distribution Loos, Electricity Power Consumption, Electricity Intensity on Energy Consumption in West Africa <p>This paper analyses the effect of electricity distribution loos, carbon emissions, growth, and energy consumption nexus in West Africa utilising pooled series data that spans the decades of 1970 to 2019. The paper employs cross sectional auto regressive distributive lag model (CS-ARDL), and Dumitrescu Hurlin Causality Test. The result of unit root test reveals that the variables have mixed stationary. In addition, the empirical analysis revealed a statistically significant negative relationship between electricity distribution losses on energy consumption while electricity intensity level, electricity power consumption and economic growth prevails positive on energy consumption in the log-run. The result established a unidirectional causal relationship running from energy consumption LEC to electricity distribution losses LEDL while a bidirectional relationship was found between electricity intensity level LEIL causing LEPC electric power consumption and carbon emission LCO2.</p> Abubakar Mohammed Atiku, Suraya Ismail, Farah Roslan, Ali Umar Ahmad Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 The Impact of Covid-19 on Pricing in the Global Oil Market <p>This article is devoted to analysing current factors affecting prices in the global oil market for the period from December 2019 to July 2022. The study focuses on the processes taking place in the economy of the United States and the eurozone countries, which led to an increase in inflation in response to the economic crisis caused by COVID-19 and their impact on current oil prices. It analyses the traditional and non-traditional measures of the US and Eurozone monetary policies designed to stimulate business activity and bring their economies out of recession. It is observed that the actions of financial regulators contributed to the growth of inflation rates, especially in the energy sector. The paper emphasizes the growing crisis in the United States and the eurozone countries, which in the future may lead to a decrease in the consumption of energy resources, including crude oil and petroleum products, which will negatively affect the stability of the global oil market. The influence of factors of the growth of US dollar inflation and measures aimed at regulating the physical volume of oil production in the framework of OPEC+ deals, which affect pricing in the world oil market, is compared using the correlation analysis. As a result of the study, it is concluded that during the analysed period there is a shift of factors affecting pricing in the world oil market from monetary to supply-demand factors in the commodity market. The current inflationary pressure of the US dollar and the euro, combined with a reduction in oil supplies to the world market due to the restrictions imposed, makes it difficult to predict oil prices and leads to an increase in the volatility of oil quotes.</p> Larisa G. Chuvakhina, Irina Z. Yarygina, Olga E. Ustinova, Valentina N. Mironova, Zhanna V. Ivanovskaya Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Evaluation Of Nearly Zero Energy Residential Buildings Design Strategies In Three Climatic Zones In Jordan <p>Designing zero or near zero-energy residential buildings will considerably help in reducing the general energy consumption. Geographically, Jordan retains three different altitude zones with unique climatic conditions for each which imperatively entails deploying different approaches to attain near zero-energy houses. This study aims to investigate the best economic feasible design strategies that possibly lead to near zero-energy residential buildings. Based on the most common detached house design-layout and materials on each zone, three case study houses were designed. The research methodology was based on three levels of efficiency. By using Design Builder, each efficiency level was examined by three design strategies: passive, active, and renewable energy design strategies in order to improve the energy performance of the buildings. The results showed that implementing the three levels concurrently would result in achieving the nearly zero-energy houses with efficient cost and less than 10 years payback period.&nbsp; In the high-land altitude zone, the annual consumption of power was reduced from 79.1 kwh/m2 to -13.6 kwh/m2. For the medium altitude zone, the annual consumption dropped down from 78.8 kwh/m2 to -16.5 kwh/m2. Finally, the annual consumption of electricity in the low-latitude zone decreased from 75.7 kwh/m2 to -21.1 kwh/m2.</p> Anwar Ibrahim, Hikmat Ali, Razan Rasheed Copyright (c) 2022 International Journal of Energy Economics and Policy Wed, 28 Sep 2022 00:00:00 +0000 Comparative Analysis of the Financial Stability of Renewable-based Electricity Companies: The Case for Hydroelectric Organizations <p>Hydroelectricity remains the dominate RES (Renewable Energy Source) and the most developed, reaching growth rate peaks in some countries in the 20th&nbsp;century. However, the share of it has fallen over the last few years, as other renewable sources have received rapid development. Despite this, growth for hydroelectricity has remained stable, with China, India, Japan, Russia, Turkey, France, Norway, Canada, USA and Brazil as market leaders. This article analyzes the key trends of development of the hydroelectricity market as a whole, as well as the financial stability of its organizations using bankruptcy likelihood prediction models. The Brazilian and Russian companies were chosen to assess as both countries are classified as developing markets. The bankruptcy prediction models indicate that overall, the financial stability of hydroelectricity giants of Brazil and Russia is at a high level, though profitability ratios are very low. During the COVID-19 pandemic, several financial support measures were implemented by governments, along with the already existing instruments for stimulating renewable energy growth. Authors’ forecasts show that current trends on the market indicate that net addition capacity growth in the next few years will not be enough to meet Net Zero goals for the renewables market.</p> Oksana V. Savchina, Dmitriy A. Pavlinov, Alexander L. Bobkov, Natalia Konovalova Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 Evaluation, Hierarchy and Selection of the best Source of Energy by using AHP, as a Proposed Solution to an Energy and Socio-economic Problem, in the case of Colombia’s Pacific Zone <p>This research presents the process and the results to weigh and classify a set of criteria and subcriteria to be considered in Renewable Energy Planning projects for a particular area of Colombia. The implementation of electrification programs in the study area faces various obstacles, among them the inadequate selection of criteria and sub-criteria for assessing the relevance and credibility of the implemented projects, which is very important today, causing huge losses from many points of view. It is proposed to implement a multicriteria methodology (MMCM) that prioritizes criteria and subcriteria, the selected methodology is applied to the use of renewable and conventional energy sources in urban, rural,and isolated regions, one of the most used methods in the best selection process and also when making energy decisions. The Hierarchy Analysis Process (AHP) is used, the data is obtained from a survey to a group of experts with a collection and verification period of about 4 months, only to reduce inaccuracies on the developer side. This study explains the results obtained with a new multipurpose support system that helps to prioritize the most appropriate energy decision criteria and subcriteria of energy options to provide sufficient energy to meet local needs and improve living conditions. Based on the literature review, 4 criteria and 16 subcriteria were identified and submitted to review using the AHP methodology (Hierarchical Analysis Process). It can be determined that the most important criterion is the economic, followed by the social, environmental, and technical, and a hierarchy of subcriteria related to each criterion is established, establishing that for the study area the best source of energy is photovoltaic solar by communities.</p> Christian Manuel Moreno Rocha, David Fernandez Perez, Jesus Rodriguez Retamoza, Jorge Silva Ortega, Denis Brieva Bohorquez, Luis Taborda Catalan Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 A Causal Assessment of Nigeria’s Crude Oil Revenue, Health Expenditure, and Economic Growth <p>Economic growth and health expenditure in Nigeria have become major priorities, and there is no doubt that health expenditure in Nigeria has risen over the years. According to studies, revenue and expenditure are important factors that contribute to a country's economic growth. Using pairwise granger causality, the study investigated the relationship between oil revenue, health expenditure, and economic growth. The variables of interest were oil revenue, health expenditures, real gross domestic product, consumer price index, and money supply. The annual time series data from 1980 to 2020 were obtained from the Central Bank of Nigeria (CBN) statistical bulletin, annual reports, and the World Bank Database. According to the findings, there is a bidirectional relationship between total health expenditure and real GDP. However, there is a unidirectional relationship between oil revenue and GDP. Furthermore, there is a unidirectional relationship between oil revenue and health expenditure. The study concluded that oil revenue and health expenditure granger cause Nigerian economic growth. Therefore, the government should make better use of oil revenue, close loopholes, and increase health spending. To increase productivity and economic growth, the government should increase public spending on health.</p> Olanike Bosede Awoyemi, Divine Amarachi Nwibe Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000 The Effects of Shale Oil and Gas Endowments on Regional Labor Markets <p>We analyze the effects of shale oil development on regional labor markets. By exploiting the exogenous geographic endowment of shale oil and gas, we find that shale endowments have differential impacts on workers in and out of the labor market. After introducing new shale technologies in 2006, shale oil and gas significantly increased the local share of high school graduates participating in the labor force. Yet, shale endowments decreased the percentage of nonworking college graduates who do not participate in the labor force. Our results suggest that shale oil and gas could increase the demand for high school graduates but create disamenities for college graduates who are not in the labor force.</p> Seunghun Chung, Oudom Hean Copyright (c) 2022 International Journal of Energy Economics and Policy Tue, 27 Sep 2022 00:00:00 +0000