Energiekonomin

Energiekonomin, or energy economics, is a field that analyzes how societies produce, distribute, and use energy, and how energy markets, policies, and technologies influence prices, choices, and welfare. It combines economic theory with engineering, environmental science, and policy analysis to understand energy supply, demand, and the transitions that affect climate and security.

Its main topics include price formation in oil, natural gas, and electricity; market design and regulation; energy efficiency and demand response; energy security and reliability; externalities and climate policy; and the economics of renewables, storage, and transmission. Researchers study how regulations, taxes, subsidies, cap-and-trade systems, and carbon pricing alter investment and consumption decisions, and how market failures and information frictions can be addressed.

Methodologically, energiekonomin relies on econometric analysis, time-series and panel data, and models of energy systems. Common tools include computable general equilibrium models, partial equilibrium models for specific sectors, optimization and game-theoretic approaches, and levelized cost of energy (LCOE) calculations and risk assessment for investments.

Data sources include national energy balances, company disclosures, and international databases from the IEA, EIA, and other agencies. The field is interdisciplinary, with collaborations across economics, engineering, political science, and environmental studies.

Subfields include electricity market design and grid integration, oil and gas economics, renewable energy economics, energy storage, and demand-side management. Policy relevance is high, guiding infrastructure investments, tariff design, and decarbonization strategies.

Education and careers typically involve economics or energy economics at the undergraduate and graduate levels, with roles in universities, government agencies, think tanks, utilities, and consulting firms.