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Article

The Impact of the COVID-19 Pandemic on Electricity Consumption and Economic Growth in Romania

1
Department of Statistics and Economic Informatics, University of Craiova, A.I. Cuza 13, 200585 Craiova, Romania
2
Department of Mathematics, University of Craiova, A.I. Cuza 13, 200585 Craiova, Romania
3
Department of Management, Politehnica University of Timisoara, Piata Victoriei 2, 300006 Timisoara, Romania
*
Author to whom correspondence should be addressed.
Academic Editor: David Borge-Diez
Energies 2021, 14(9), 2394; https://doi.org/10.3390/en14092394
Received: 5 March 2021 / Revised: 18 April 2021 / Accepted: 20 April 2021 / Published: 23 April 2021
This paper analyzes the impact of the COVID-19 pandemic on economic growth and electricity consumption and investigates the hypothesis of the influence of this consumption on the gross domestic product (GDP) for Romania. Using time series on monthly electricity consumption and quarterly GDP and a multi-linear regression model, we performed an analysis of the evolution of these indicators for 2007–2020, a comparison between their behavior during the financial crisis vs. COVID-19 crisis, and empirically explore the relationships between GDP and electricity consumption or some of its components. The results of the analysis confirm that the shock of declining activity due to the COVID-19 pandemic had a severe negative impact on electric energy consumption and GDP in the first half of 2020, followed by a slight recovery. By using a linear regression model, long-term relationships between GDP and domestic and non-household electricity consumptions were found. The empirically estimated elasticity coefficients confirm the more important impact of non-household electricity consumption on GDP compared to the one of domestic electricity consumption. In the context of the COVID-19 pandemic, the results of the study could be useful for optimizing energy and economic growth policies at the national and European levels. View Full-Text
Keywords: COVID-19; electricity consumption; economic growth; Romania; lockdown; household energy COVID-19; electricity consumption; economic growth; Romania; lockdown; household energy
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MDPI and ACS Style

Soava, G.; Mehedintu, A.; Sterpu, M.; Grecu, E. The Impact of the COVID-19 Pandemic on Electricity Consumption and Economic Growth in Romania. Energies 2021, 14, 2394. https://doi.org/10.3390/en14092394

AMA Style

Soava G, Mehedintu A, Sterpu M, Grecu E. The Impact of the COVID-19 Pandemic on Electricity Consumption and Economic Growth in Romania. Energies. 2021; 14(9):2394. https://doi.org/10.3390/en14092394

Chicago/Turabian Style

Soava, Georgeta, Anca Mehedintu, Mihaela Sterpu, and Eugenia Grecu. 2021. "The Impact of the COVID-19 Pandemic on Electricity Consumption and Economic Growth in Romania" Energies 14, no. 9: 2394. https://doi.org/10.3390/en14092394

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