Cointegration Relationships to Estimate the Marginal Cost of Deficit in Planning a Hydrothermal System: The Case of Brazil

Volume: 4 Number: 2 June 1, 2014
  • Lucio Guido Tapia Carpio
International Journal of Energy Economics and Policy Cover
International Journal of Energy Economics and Policy
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Cointegration Relationships to Estimate the Marginal Cost of Deficit in Planning a Hydrothermal System: The Case of Brazil

Abstract

The aim of this study is to analyze the behavior of gross domestic product (GDP) compared to electricity consumption in Brazil to estimate the curve of deficit marginal cost. The deficit cost is used as exogenous parameter in the chain of models for planning the operation and expansion of a hydrothermal system as part of the total cost of operation. The results show a cointegration relationship between GDP and electricity consumption; therefore, there is a long-term equilibrium relationship between GDP and electricity consumption. This relationship is used to estimate the curve of deficit marginal cost. The possible short-term imbalance can be mitigated using the vector error correction model (VEC).

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Primary Language

English

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Journal Section

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Authors

Lucio Guido Tapia Carpio This is me

Publication Date

June 1, 2014

Submission Date

June 1, 2014

Acceptance Date

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Published in Issue

Year 2014 Volume: 4 Number: 2

IZ

https://izlik.org/JA72LE94YY

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RIS / Bibtex
APA
Carpio, L. G. T. (2014). Cointegration Relationships to Estimate the Marginal Cost of Deficit in Planning a Hydrothermal System: The Case of Brazil. International Journal of Energy Economics and Policy, 4(2), 117-124. https://izlik.org/JA72LE94YY
AMA
1.Carpio LGT. Cointegration Relationships to Estimate the Marginal Cost of Deficit in Planning a Hydrothermal System: The Case of Brazil. IJEEP. 2014;4(2):117-124. https://izlik.org/JA72LE94YY
Chicago
Carpio, Lucio Guido Tapia. 2014. “Cointegration Relationships to Estimate the Marginal Cost of Deficit in Planning a Hydrothermal System: The Case of Brazil”. International Journal of Energy Economics and Policy 4 (2): 117-24. https://izlik.org/JA72LE94YY.
EndNote
Carpio LGT (June 1, 2014) Cointegration Relationships to Estimate the Marginal Cost of Deficit in Planning a Hydrothermal System: The Case of Brazil. International Journal of Energy Economics and Policy 4 2 117–124.
IEEE
[1]L. G. T. Carpio, “Cointegration Relationships to Estimate the Marginal Cost of Deficit in Planning a Hydrothermal System: The Case of Brazil”, IJEEP, vol. 4, no. 2, pp. 117–124, June 2014, [Online]. Available: https://izlik.org/JA72LE94YY
ISNAD
Carpio, Lucio Guido Tapia. “Cointegration Relationships to Estimate the Marginal Cost of Deficit in Planning a Hydrothermal System: The Case of Brazil”. International Journal of Energy Economics and Policy 4/2 (June 1, 2014): 117-124. https://izlik.org/JA72LE94YY.
JAMA
1.Carpio LGT. Cointegration Relationships to Estimate the Marginal Cost of Deficit in Planning a Hydrothermal System: The Case of Brazil. IJEEP. 2014;4:117–124.
MLA
Carpio, Lucio Guido Tapia. “Cointegration Relationships to Estimate the Marginal Cost of Deficit in Planning a Hydrothermal System: The Case of Brazil”. International Journal of Energy Economics and Policy, vol. 4, no. 2, June 2014, pp. 117-24, https://izlik.org/JA72LE94YY.
Vancouver
1.Lucio Guido Tapia Carpio. Cointegration Relationships to Estimate the Marginal Cost of Deficit in Planning a Hydrothermal System: The Case of Brazil. IJEEP [Internet]. 2014 Jun. 1;4(2):117-24. Available from: https://izlik.org/JA72LE94YY