TY - JOUR
T1 - Oil prices and electricity production in Morocco
AU - Kharbach, Mohammed
AU - Chfadi, Tarik
N1 - Publisher Copyright:
© 2018 Elsevier Ltd
PY - 2018/11
Y1 - 2018/11
N2 - This paper investigates the impact of oil prices on a single public utility's electricity production by using a cointegration approach. We estimate the elasticity of the electricity produced, by different fuel sources (coal, oil, and water) in the Moroccan power system, to oil prices. We find that, in the long run, the elasticities of the electricity produced by coal and oil to oil prices are similar. On the contrary, significant differences exist in the short-term elasticity of the electricity produced by coal and oil to oil prices. We also find that hydropower could substitute the electricity produced by coal in the short run but not in the long run.
AB - This paper investigates the impact of oil prices on a single public utility's electricity production by using a cointegration approach. We estimate the elasticity of the electricity produced, by different fuel sources (coal, oil, and water) in the Moroccan power system, to oil prices. We find that, in the long run, the elasticities of the electricity produced by coal and oil to oil prices are similar. On the contrary, significant differences exist in the short-term elasticity of the electricity produced by coal and oil to oil prices. We also find that hydropower could substitute the electricity produced by coal in the short run but not in the long run.
KW - Coal
KW - Elasticity of production
KW - Electricity production
KW - Hydropower
KW - Morocco
KW - Oil
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U2 - 10.1016/j.esr.2018.10.006
DO - 10.1016/j.esr.2018.10.006
M3 - Article
AN - SCOPUS:85055638537
SN - 2211-467X
VL - 22
SP - 320
EP - 324
JO - Energy Strategy Reviews
JF - Energy Strategy Reviews
ER -