Electricity generation and economic performance: On the 2021 Texas power crisis

Q1 Social Sciences

Electricity Journal Pub Date : 2024-01-01 DOI:10.1016/j.tej.2024.107367

Yun Liu , Liangyi Wang , Yiming Deng

引用次数: 0

Abstract

Electricity outage during the 2021 Texas power crisis substantively undermines the state’s economy. To evaluate the economic impacts, we empirically provide a baseline estimate for such an outage with a GDP elasticity of electricity generation of 0.62 and detect that electricity generation significantly Granger causes Texas’ GDP but not vice versa. Our investigation reveals that the 2021 power crisis tends to reduce Texas’ GDP by at least 1.44%. Because power system primarily underpins the economy, our findings imply that Texas should utilize various available technological and regulatory options to strengthen its power system to accommodate more resilience.

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发电和经济表现：关于 2021 年得克萨斯州的电力危机

2021 年德克萨斯州电力危机期间的停电对该州经济造成了实质性破坏。为了评估对经济的影响，我们根据经验对这种停电进行了基线估计，发电量的 GDP 弹性为 0.62，并发现发电量会显著地格兰杰引起德克萨斯州的 GDP，但反之亦然。我们的调查显示，2021 年的电力危机往往会使得克萨斯州的 GDP 减少至少 1.44%。由于电力系统是经济的主要支柱，我们的研究结果表明，得克萨斯州应利用各种可用的技术和监管方案来加强其电力系统，以适应更强的抗灾能力。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Electricity Journal Business, Management and Accounting-Business and International Management

CiteScore

5.80

自引率

0.00%

发文量

审稿时长

31 days

期刊介绍： The Electricity Journal is the leading journal in electric power policy. The journal deals primarily with fuel diversity and the energy mix needed for optimal energy market performance, and therefore covers the full spectrum of energy, from coal, nuclear, natural gas and oil, to renewable energy sources including hydro, solar, geothermal and wind power. Recently, the journal has been publishing in emerging areas including energy storage, microgrid strategies, dynamic pricing, cyber security, climate change, cap and trade, distributed generation, net metering, transmission and generation market dynamics. The Electricity Journal aims to bring together the most thoughtful and influential thinkers globally from across industry, practitioners, government, policymakers and academia. The Editorial Advisory Board is comprised of electric industry thought leaders who have served as regulators, consultants, litigators, and market advocates. Their collective experience helps ensure that the most relevant and thought-provoking issues are presented to our readers, and helps navigate the emerging shape and design of the electricity/energy industry.