Economic Analysis: Theory and Practice

Integrated energy-and-economic analysis of the Irkutsk oblast based on the energy balance

Vol. 17, Iss. 1, JANUARY 2018

Received: 5 October 2017

Received in revised form: 1 November 2017

Accepted: 15 November 2017

Available online: 29 January 2018


JEL Classification: Q43, R13, R15

Pages: 66–81

Muzychuk S.Yu. Melentiev Energy Systems Institute of Siberian Branch of Russian Academy of Sciences, Irkutsk, Russian Federation

ORCID id: not available

Muzychuk R.I. Melentiev Energy Systems Institute of Siberian Branch of Russian Academy of Sciences, Irkutsk, Russian Federation

ORCID id: not available

Importance An integrated energy-and-economic analysis based on the energy balance enables to identify reserves of growth in efficiency. It is particularly relevant for energy intensive economy of the Irkutsk oblast because of its climatic characteristics, industry specialization and technological inferiority as compared to the country's central and western regions.
Objectives The aim of the study is to identify the most significant factors influencing the energy efficiency of the economy on the basis of a comprehensive energy and economic analysis of the energy balance of the Irkutsk oblast.
Methods We apply our own methodological approach that rests on economic and mathematical modeling, systems analysis, correlation-regression analysis, and balance sheet methods.
Results We generated aggregate balance sheets, identified major indicators of energy efficiency of the Irkutsk oblast. The comprehensive analysis revealed determinants of energy efficiency and helped quantify them. Energy conservation and energy efficiency growth can provide a measurable economic effect, which, if it is given scientific credence, can make management decisions of regional authorities and companies of the Irkutsk oblast more informed.
Conclusions The developed methodological approach enables to identify the most important factors impacting the energy efficiency of the area's economy and suggest initiatives to use energy resources to the fullest extent possible. If implemented, the initiatives will improve the energy efficiency of the economy in the oblast.

Keywords: methodological approach, energy efficiency, energy resources, energy balance


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