Rethinking Regional Energy Policy: Towards Averting Another Energy Crisis. Do Threats Matter in The Supply and Generation Process?
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IISTE
Abstract
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The study investigates potential threats to energy security and sustainable electricity production from a regional
perspective, after identifying a host of factors that are likely to affect sustainable energy production and supply
using seemingly unrelated regression estimation, which produces efficient estimates by solving two unrelated
regression simultaneously. Our results show that the identified threats to energy generation matter. Energy
security which we described as the level of diversification in regional specific energy generating sources is
probably being affected by regional specific level of industrialization and domestic energy consumption. Issues
of over dependence on specific sources of energy supply (particularly nuclear production sources) were also
found to have a negative effect on energy security and probably increase the risk of future failure in energy
supply. Energy policy was also found to have a significant effect on energy security. The impacts of various
constraints on electricity production were also considered. It was found that many factors affect electricity output
production in regions particularly environmental factors that affect consumption and the generation process.
Keywords: Energy Security, Electricity production, Seemingly Unrelated Regression
Keywords
H Social Sciences (General)