Household fuel demand analysis

Conference · Thu Jan 01 04:00:00 EST 1976

OSTI ID:7215178

Cohn, S; Hirst, E; Jackson, J

This study develops econometric models of residential demands for electricity, natural gas, and petroleum products. Fuel demands per household are estimated as functions of fuel prices, per capita income, heating degree days, and mean July temperature. Cross-sectional models are developed using a large data base containing observations for each state and year from 1951 through 1974. Long-run own-price elasticities for all three fuels are greater than unity with natural gas showing the greatest sensitivity to own-price changes. Cross-price elasticities are all less than unity except for the elasticity of demand for oil with respect to the price of gas (which is even larger than the own-price elasticity of demand for oil). The models show considerable stabiity with respect to own-price elasticities but much instability with respect to the cross-price and income elasticities.

• Research Organization: Oak Ridge National Lab., TN (USA)
• DOE Contract Number: W-7405-ENG-26
• OSTI ID: 7215178
• Report Number(s): CONF-770225-1
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
292000 -- Energy Planning & Policy-- Supply
Demand & Forecasting
32 ENERGY CONSERVATION, CONSUMPTION, AND UTILIZATION
320101* -- Energy Conservation
Consumption
& Utilization-- Residential Buildings-- (-1987)
BUILDINGS
CHARGES
CLIMATES
COST
ECONOMETRICS
ECONOMIC ELASTICITY
ECONOMICS
ELECTRIC POWER
ENERGY DEMAND
ENERGY SOURCES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUEL OILS
FUELS
GAS FUELS
GASES
HEATING
HEATING OILS
HOUSES
NATURAL GAS
OILS
ORGANIC COMPOUNDS
OTHER ORGANIC COMPOUNDS
PETROLEUM PRODUCTS
POWER
RESIDENTIAL BUILDINGS
SPACE HEATING