| Summary/Abstract |
This article provides fresh empirical evidence of residential electricity demand in Singapore over the period of 1980–2014, using the bounds testing procedure to cointegration. The residential electricity demand comprises of income, price, temperature, rainy days, old-age dependency and the impact of energy efficiency policies. Our results are consistent with previous studies, where income and price elasticities are inelastic. Hence, from a policy perspective, subsidies will not be effective in reducing electricity demand. We also found that old-age dependency is an important determinant that reduces electricity consumption at least in the short-run, suggesting that policies that target the younger population may bring more savings.
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