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Efficient, equitable and sustainable energy policy in a small open economy: Concepts and assessments

Youngho Chang () and Zheng Fang ()

Energy Policy, 2017, vol. 105, issue C, 493-501

Abstract: This study aims to develop three broadly defined concepts of designing and evaluating energy policy of a small open economy, namely, efficiency, equity, and sustainability which are applied to Singapore. By analysing the historical energy and economic data and examining energy policies and programs implemented, this study finds that (1) energy intensity improves over time and three strategies employed to improve energy efficiency - tariffs, deregulation and setting energy standards - are found to have some positive effects. (2) A utility rebate programme is implemented and revised continuously to achieve equity in energy consumption across Singapore households. (3) By the weak concept of sustainability, Singapore is considered marginally sustainable. Institutional, technological and market-based approaches are being implemented to increase energy efficiency, improve energy equity and secure sustainability.

Keywords: Energy policy; Energy efficiency; Equity; Sustainability; Income elasticity of energy consumption; Singapore (search for similar items in EconPapers)
JEL-codes: Q43 Q48 (search for similar items in EconPapers)
Date: 2017
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