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- W1567200180 abstract "There are multiple and interrelated dimensions involved in the analysis of the impact of energy in economies, ranging from microeconomic regulatory issues to macroeconomic impacts on GDP, infl ation and the current account. The analysis of energy issues has its own specifi cities, though energy markets share many of the basic characteristics of other markets in the economy. The supply of energy implies the transformation of primary energy sources into types of energy that can be later used as inputs or as fi nal households’ consumption. For example, hydroelectric power can be used to produce electricity and crude oil can be transformed into liquid fuel for road, maritime or air transport. The extraction of primary energy sources and their transformation into different types of energy products is an economic activity by itself and contributes to the total gross value added and employment. The energy sectors are typically associated with network industries. The investments required in energy extraction, transformation and distribution are typically high, leading to markets dominated by a small number of fi rms, which interact with an inelastic energy demand curve. This gives rise to important competition issues that are typically settled by specifi c regulatory authorities, either at the national or at the European level (see, for example, EC (2009)). As in other markets, primary and secondary energy supply is not only a function of energy endowments but it is also affected by energy price levels. In addition, the structure of primary and secondary energy production depends on the relative cost of each production technology, which may include not only economic and fi nancial costs, in their strict sense." @default.
- W1567200180 created "2016-06-24" @default.
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- W1567200180 date "2010-01-01" @default.
- W1567200180 modified "2023-09-28" @default.
- W1567200180 title "ENERGY PRODUCTION AND CONSUMPTION IN PORTUGAL: STYLIZED FACTS*" @default.
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