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Abstract In modern developed economies, one of the primary objectives is to manage the transition from polluting to cleaner technologies as efficiently as possible. By now, in the current empirical literature, one can identify technological spillovers from environmental innovations as a major driver of this process. Specific energy policy aspects connected with industry behaviour have yet to be explored. The aim of this paper is to investigate energy efficiency via environmental innovation and the resulting degree of resilience and adaptation of both developed and developing countries. The work applies the non-parametric DEA (Data Envelopment Analysis) framework and Tobit analysis. For this scope, it is built a panel dataset made of some 5000 observations based on energy policy and sustainable development variables for 136 OECD and non-OECD countries. The results show that knowledge spillovers from environmental innovations reduce inefficiency and therefore strengthen the resilience of economies that decide and manage to invest adequately in the transition to more sustainable technologies. Besides, OECD countries improve their energy efficiency scores over time, whilst non-OECD countries do not. This implies that sustainable technologies transition is made more efficient by environmental innovation but the process is fostered by disposing of a resilient economic system – hence, vulnerability can affect the transition. These hypotheses lead to important economic, social and environmental implications for energy policy modelling.

Abstract The projected growth in households in the UK is a key factor in future domestic energy consumption, particularly electricity consumption. While every household needs a home and its heating, lighting and appliances, increasing incomes have historically led to significantly higher appliance ownership, higher expectations of levels of energy service and greater usage. In the past this trend was combined with increasing household numbers to drive growth in domestic electricity demand. Official projections for population growth and household composition indicate significant drivers for future growth in energy demand. Curbing this will require policies to reverse the tendency for energy–efficiency improvements to be overwhelmed by growing numbers of households, more widespread appliance ownership and increased service expectations.

Abstract This paper presents a focused analysis of the role of entrants into the electricity generation market since privatisation. It examines subsequent developments in the market and in the industry's structure and performance. The analysis draws heavily upon new information gained from telephone interviews with many of those involved with the so-called “independent power producers” (IPPs), as well as information in the existing literature. Our key finding is that IPP entry has not significantly increased competition and has adversely affected the future viability of the electricity system. We attribute these failures to the very policies that encouraged the initial entry of the IPPs.

Abstract A study of the relationship between electricity use and economic development in over one hundred countries, constituting over 99% of the global economy has been undertaken. Correlations between electricity consumption/capita and GDP/capita have been analysed and compared with those between total primary energy supply/capita and GDP/capita. A supporting analysis has correlated the proportion of energy used in the form electricity, the `e/E ratio', with GDP/capita. The general conclusions of this research are that wealthy countries have a stronger correlation between electricity use and wealth creation than do poor countries and that, for the global economy as a whole, there is a stronger correlation between electricity use and wealth creation than there is between total energy use and wealth. The study also shows that, in wealthy countries, the increase in wealth over time correlates with an increase in the e/E ratio. The results imply that the energy ratio ($/toe) should be replaced by the electricity ratio ($/kWh) as a development indicator and, more precisely, by the e/E ratio (kWh/toe).

Abstract Fracking drilling has opened a discussion on the role of technological developments in economies engaged in shale oil and gas formations. Oil and natural gas production opened new possibilities for employment benefits and housing prices decreases. This paper explores, for the first time, the impact of fracking on housing prices across Oklahoma's counties, spanning the period 2000–2015. Through panel methods, the findings show a positive effect on housing prices, while this positive effect gains statistical significance only over the period after the 2006 fracking boom. The results survive a robustness check that explicitly considers distance and groundwater-dependency issues.

Abstract This paper examines a representative sample ( N = 421 ) of older people (aged 70+) living in rural North Wales with regard to relationships between fuel poverty, feeling cold in one's home and a range of self-reported housing and home energy efficiency items. In the Welsh context, the combination of poor housing stock and low-level income is likely to increase the chance of older people experiencing fuel poverty, therefore the analyses are relevant to both energy and social policy. The paper hypothesises that: (i) People in ‘fuel poor’ homes are: low-income households; living in older houses; lacking home energy efficiency measures; (ii) not all people facing difficulties heating their home (i.e. wearing extra clothing to keep warm during cold spells) are identified as ‘fuel poor’, but there will be an association between taking extra measures to keep warm and low income; older houses and lacking home energy efficiency factors. The results partially support the hypotheses. An estimation is made of the expenditure required to counter the factors associated with fuel poverty and cold homes in the region. The paper concludes with implications for the UK Fuel Poverty Strategy.

Abstract Despite substantial oil and gas revenue Russia's fiscal stance is unsustainable. Under our benchmark assumptions the permanent-income rule requires a permanent tightening of the fiscal stance by 4.6%-points of GDP. Delaying it by a decade implies that the fiscal stance needs to be tightened by a further 0.9%-point. This benchmark optimal policy ensures that depletion of oil and gas wealth is matched by an equal increase in above-ground financial wealth. Its merits are highlighted by comparing it with the tougher alternative of the bird-in-hand rule and with projecting the current fiscal stance. If oil and gas revenue rises by a half due to higher prices or more discoveries, the fiscal stance needs to be tightened by only 3.2%-points of GDP. However, if a large chunk of oil and gas has to be kept in the soil to meet international agreements to keep global warming below 2 °C, the permanent transfer drops to 2.0% of GDP and the fiscal stance needs to be tightened by 5.5%-points of GDP.

Abstract One of the repercussions of the increasing price of oil in the 1970s was an increase in the size of balance of payments disequilibria throughout the world, and a rise in the need for recycling. The mechanisms through which this has been achieved are deficient in a number of ways. The introduction of a new recycling instrument — a long-term bond with the rate of interest index linked to the rate of inflation denominated in SDRs and issued by groups of developing country borrowers — would have advantages for both borrowers and leaders, would give greater stability to the international financial system, and would enhance economic development.

Abstract We compare the welfare effects of different regulation schemes of electricity distribution utilities. The compared regulation schemes are Fixed Price regulation, Cost of Service regulation, Menu of Cost-Contingent Contracts and Simple Menu of Contracts. In our calculations we utilize the information of a firm’s potential to improve cost efficiency. The firm-specific cost information of Finnish electricity distribution utilities is obtained by using various Stochastic Frontier models. Our basic result is that welfare can be improved by changing the Cost of Service regulation scheme to the Menu of Contracts regulation. Welfare also increases in the case of Fixed Price regulation and Simple Menu of Contract regulation. There is however, a significant difference among regulation regimes on how this improved welfare is distributed to consumers and producers.