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Efficient, equitable and sustainable energy policy in a small open economy: Concepts and assessments

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  • Chang, Youngho
  • Fang, Zheng

Abstract

This study aims to develop three broadly defined concepts of designing and evaluating energy policy of a small open economy, namely, efficiency, equity, and sustainability which are applied to Singapore. By analysing the historical energy and economic data and examining energy policies and programs implemented, this study finds that (1) energy intensity improves over time and three strategies employed to improve energy efficiency - tariffs, deregulation and setting energy standards - are found to have some positive effects. (2) A utility rebate programme is implemented and revised continuously to achieve equity in energy consumption across Singapore households. (3) By the weak concept of sustainability, Singapore is considered marginally sustainable. Institutional, technological and market-based approaches are being implemented to increase energy efficiency, improve energy equity and secure sustainability.

Suggested Citation

  • Chang, Youngho & Fang, Zheng, 2017. "Efficient, equitable and sustainable energy policy in a small open economy: Concepts and assessments," Energy Policy, Elsevier, vol. 105(C), pages 493-501.
    • Handle: RePEc:eee:enepol:v:105:y:2017:i:c:p:493-501
    DOI: 10.1016/j.enpol.2017.03.031
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    References listed on IDEAS

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    3. Fang, Zheng & Chang, Youngho, 2016. "Energy, human capital and economic growth in Asia Pacific countries — Evidence from a panel cointegration and causality analysis," Energy Economics, Elsevier, vol. 56(C), pages 177-184.
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    7. Qiaosheng Wu & Svetlana Maslyuk, 2012. "Energy Consumption Inequality and Human Development," Chapters, in: Zoran Morvaj (ed.), Energy Efficiency - A Bridge to Low Carbon Economy, IntechOpen.
    8. Chang, Youngho, 2007. "The New Electricity Market of Singapore: Regulatory framework, market power and competition," Energy Policy, Elsevier, vol. 35(1), pages 403-412, January.
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    Cited by:

    1. Dania Ortiz & Vítor Leal, 2020. "Energy Policy Concerns, Objectives and Indicators: A Review towards a Framework for Effectiveness Assessment," Energies, MDPI, vol. 13(24), pages 1-26, December.
    2. Bekhet, Hussain Ali & Latif, Nurul Wahilah Abdul, 2018. "The impact of technological innovation and governance institution quality on Malaysia's sustainable growth: Evidence from a dynamic relationship," Technology in Society, Elsevier, vol. 54(C), pages 27-40.

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    More about this item

    Keywords

    Energy policy; Energy efficiency; Equity; Sustainability; Income elasticity of energy consumption; Singapore;
    All these keywords.

    JEL classification:

    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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