Future assessment of the impact of the COVID-19 pandemic on the electricity market based on a stochastic socioeconomic model

The impact of the COVID-19 pandemic on China's economic structure: An input-output approach

Recognizing the impact of COVID-19 on economic structure is an urgently required task for the post-pandemic era. However, studies have been hampered in undertaking this task by a lack of current data and the use of inappropriate methods. This paper fills the gap in the literature by applying a network analysis method using the newly released input-output tables of China and evaluating the structural impacts on the economy, including the changes in the sectoral closeness, betweenness, risk condition, and network backbone. The modelling results demonstrate that the pandemic has accelerated the structural transformation process of the Chinese economy: the traditional growth engines, such as the petroleum and finance industries, have lagged, whereas new growth engine sectors, including the digital services and scientific research industries, have expanded rapidly. Accordingly, we propose that the government formulate policies to stabilize old growth engine industries and foster new drivers to promote a sustainable economic recovery in China.

The impact of COVID-19 measures on intraday electricity load curves in the European Union: A panel approach

This paper examines the impact of the intensity of government measures introduced to reduce the spread of COVID-19 on intraday electricity load curves in 23 European countries. The econometric panel model used covers the entire period from the virus outbreak in Europe up to the release of several vaccines; therefore, the estimation considers the introduction, partial lifting, and reintroduction of the interventions. Based on the results, the impacts of the different stringency measures were similar in the 23 analysed EU member states. More stringent interventions had different effects at different times of day: the morning and evening peaks were significantly affected, as was every hour of the day. The impacts were nonlinear, meaning that different measures mutually amplified each other’s impact and led to more substantial changes in electricity consumption and citizens’ lives. The morning and evening peaks are also found to have decreased, causing a flattening of the load curves. In line with this result, the partial effect of an increase in the stringency index depends on the type of day (weekday or weekend), hour of the day, and initial stringency level. Overall, the lockdown measures led to a decrease in hourly electricity consumption of between 1% and 9% on weekdays and between 1% and 13% on weekends. Total daily consumption decreased by up to 9%. Understanding how hourly electricity demand reacts to different stringency measures provides valuable information in operation scheduling and capacity planning. More accurate demand forecasts can support trading decisions and help prevent extreme market mismatches.

Analysis of the Impact of the COVID-19 Pandemic on the Value of CO2 Emissions from Electricity Generation

The study analyzed the impact of the COVID-19 pandemic on the carbon dioxide emissions from electricity generation. Additionally, monthly seasonality was taken into account. It was assumed (research hypothesis) that both the COVID-19 pandemic (expressed in individual waves of infection cases) and the month have a significant impact on CO2 emissions. Analysis of variance (ANOVA) and non-parametric Kruskal–Wallis tests were used to evaluate the significance of the influence of individual explanatory variables on the CO2 emission. The identification of the studied series (CO2 emission) was first made by means of a linear regression model with binary variables and then by the ARMAX model. The analysis shows that in the consecutive months and periods of the COVID-19 pandemic, CO2 emissions differ significantly. The highest increase in emissions was recorded for the second wave of the pandemic, as well as in January and February. This is due to the overlapping of both the increase in infections (favoring stays at home) and the winter season. It can be concluded that working plants, schools and factories had the same demand for electricity, but sources of increased consumption were people staying at home and in hospitals as a result of deteriorated health, isolation or quarantine.