Static Correlation Analysis with Industrial Electricity Consumption Volumes

Abstract

Based on that electricity consumption is an objective indicator of industrial activities, it is deduced that the economic connections between industries can be mapped to the correlation of their electricity consumption time sequences. Correlation analysis of industrial electricity consumption can be categorized into static analysis and dynamic analysis based on whether causality is considered. The former aims at describing a topological figure of the industrial structure while the latter at deciding direction and strength of driving force transfer. In this paper, static analysis is performed with Shandong prefecture industry electricity consumption data. An MST network is built with Shandong 133-industry classification. The result shows generalities and specialties of Shandong industrial structure, comparing with common cognition. Centrality analysis is performed with electricity data of industry divisions and groups in Shandong prefectures. The result presents the influence of different industries to local national economy. The study offers a viewpoint of power to discover and explain industrial economic features and could be of assistance for the authority in making related strategy.