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

Tri Wahyu Adi, Edy Susanto, Ade Caswito, R. Sapto Yuwono, Tarwaji Warsokusumo and A. Y. Agung Nugroho
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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

International Journal of Energy Economics and Policy, 2024, vol. 14, issue 4, 48-56

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.

Keywords: Fossil Fuel Price; Electricity Consumption; Renewable; Gross Domestic Product; Inflation; Greenflation (search for similar items in EconPapers)
JEL-codes: B22 E21 E31 L94 O11 O13 Q21 Q31 Q41 Q43 (search for similar items in EconPapers)
Date: 2024
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