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Firms and Households during the Pandemic: What Do We Learn from Their Electricity Consumption?

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  • Olympia Bover, Natalia Fabra, Sandra García-Uribe, Aitor Lacuesta, and Roberto Ramos

Abstract

We analyze the impact of the COVID-19 pandemic on electricity consumption patterns. We highlight the importance of decomposing total electricity consumption into consumption by firms and by households to better understand the economic and social impacts of the crisis. While electricity demand by firms has fallen substantially, the demand by households has gone up. In particular, our focus is on Spain where, during the total lockdown, these effects reached 29% and +10% respectively, controlling for temperature and seasonality. While the electricity demand reductions during the second wave were milder, the demand by firms remained 5% below its normal levels. We also document a change in peoples daily routines in response to the stringency of the lockdown measures, as reflected in their hourly electricity consumption patterns.

Suggested Citation

  • Olympia Bover, Natalia Fabra, Sandra García-Uribe, Aitor Lacuesta, and Roberto Ramos, 2023. "Firms and Households during the Pandemic: What Do We Learn from Their Electricity Consumption?," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3).
    • Handle: RePEc:aen:journl:ej44-3-fabra
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    Cited by:

    1. Guglielmo Maria Caporale & Abdurrahman Nazif Çatık & Mohamad Husam Helmi & Coşkun Akdeniz & Ali İlhan, 2024. "Time-varying effects of the COVID-19 pandemic on stock markets and economic activity: evidence from the US and Europe," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 51(2), pages 529-558, May.
    2. Cerqueira, Pedro André & Pereira da Silva, Patrícia, 2023. "Assessment of the impact of COVID-19 lockdown measures on electricity consumption – Evidence from Portugal and Spain," Energy, Elsevier, vol. 282(C).

    More about this item

    JEL classification:

    • F0 - International Economics - - General

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