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Influence of Fossil Fuel Prices on Fossil and Renewable Electricity Consumptions, GDP, Inflation and Greenflation: A Case Study in the Asia Pacific Countries

Author

Listed:
  • Tri Wahyu Adi

    (Faculty of Technology and Energy Business, Institut Teknologi Perusahaan Listrik Negara, Indonesia)

  • Edy Susanto

    (Faculty of Technology and Energy Business, Institut Teknologi Perusahaan Listrik Negara, Indonesia)

  • Ade Caswito

    (Faculty of Technology and Energy Business, Institut Teknologi Perusahaan Listrik Negara, Indonesia)

  • R. Sapto Yuwono

    (Faculty of Technology and Energy Business, Institut Teknologi Perusahaan Listrik Negara, Indonesia)

  • Tarwaji Warsokusumo

    (Faculty of Technology and Energy Business, Institut Teknologi Perusahaan Listrik Negara, Indonesia)

  • A. Y. Agung Nugroho

    (MBA Program, Atma Jaya Catholic University of Indonesia, Indonesia)

Abstract

This study aims to examine the Influence of Fossil Fuel Prices on Fossil and Renewable Electricity Consumption, GDP, Inflation and Greenflation. This research is explanatory. The empirical analysis uses time-series data of Fossil Fuel Price, Fossil Electricity Consumption, Renewable Electricity Consumption, Inflation Rate and GDP in Asia Pacific Countries in the period 2016 – 2021. The inferential statistical method used to analyse this study is component-based using SmartPLS 4.0.9.6. The results of this study, find that fossil fuel price has a negative significant effect on fossil electricity consumption and a significant negative effect on renewable electricity consumption. Fossil electricity consumption has a significant negative effect on GDP and a negative insignificant effect on Inflation. Renewable electricity consumption has a positive significant effect on GDP and an insignificant negative effect on inflation (Greenflation). The novelty of this study is to examine how Fossil fuel prices have an effect on renewable electricity consumption and its impact on GDP and greenflation analysis using SmartPLS 4.0.9.6.

Suggested Citation

  • Tri Wahyu Adi & Edy Susanto & Ade Caswito & R. Sapto Yuwono & Tarwaji Warsokusumo & A. Y. Agung Nugroho, 2024. "Influence of Fossil Fuel Prices on Fossil and Renewable Electricity Consumptions, GDP, Inflation and Greenflation: A Case Study in the Asia Pacific Countries," International Journal of Energy Economics and Policy, Econjournals, vol. 14(4), pages 48-56, July.
    • Handle: RePEc:eco:journ2:2024-04-5
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    More about this item

    Keywords

    Fossil Fuel Price; Electricity Consumption; Renewable; Gross Domestic Product; Inflation; Greenflation;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q21 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Demand and Supply; Prices
    • Q31 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Demand and Supply; Prices
    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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