| Title |
An Analysis of Residential Electricity Consumption Factor at the Regional in Korea |
| Authors |
김종용(Jong Yong Kim) ; 강승진(Seung Jin Kang) |
| DOI |
https://doi.org/10.5370/KIEEP.2019.68.2.061 |
| Keywords |
Electricity consumption ; Panel data analysis ; Fixed effect model |
| Abstract |
This Study confirms the factors that cause the difference of electricity consumption in the residential by municipality in Korea. In the empirical analysis, total of 7 variables such as electricity consumption, population, GRDP(Gross Regional Domestic Product), electricity sales price, electricity consumption of per capita, CDD(Cooling Degree Day), and HDD(Heating Degree Day) were used in 228 municipal. The analysis period is from 2005 to 2016, with 19,152 observations. This study estimated the Pooled OLS (Ordinary Least Squares) model as a residential electricity consumption model. And after estimating the random effects model, fixed effects model was selected as the appropriate model according to the Housman test. As a result, it was found out that the factors affecting the power consumption of the residential by the municipal in Korea are the population, electricity sales price, the electricity consumption of per capita and the CDD. |