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Cointegration Relationship between the Two Sides of the Electric Energy Sector

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Author(s): Yılmaz Akdi | Afşin Şahin | Cemal Atakan

Journal: Selçuk Journal of Applied Mathematics
ISSN 1302-7980

Volume: 9;
Issue: 2;
Start page: 65;
Date: 2008;
Original page

Keywords: Electricity energy sector | unit root | cointegration | periodogram.

ABSTRACT
Energy is one of the basic micro dynamics of the general economy. Turkey as one of the candidate countries to the European Union is dependent on the petroleum and natural gas as the member states. Along with this, Turkey should turn to other energy sources bethinking the high population increase. In this article, we have investigated the relationship between the elecrtic energy production and consumption in Turkey. We observed that the production and consumption series are both non-stationary. Standart and the periodgram based unit root tests were employed to both series. The periodgram based unit root test is invariant to mean. Moreover, the distribution of critical values are free of the sample size and model selection. First, we observed that both of the series are non-stationary. Next, we have searched for a possible cointegration methods. We rejected the cointegration relationship for the consumption and supply side of the electric energy sector.
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