Keywords: Energy affordability, Energy price, Fuel poverty, Welfare, Subjective well-being JEL Codes: Q41: Energy: Demand and Supply Prices, Q40: Energy: General The empirical results are consistent with the prediction that greater fuel poverty implies a greater effect of energy prices on well-being.Įnergy Specializations: Energy and the Economy – Energy as a Productive Input Renewables – Policy and Regulation Electricity – Markets and Prices Nuclear Power – Markets and Prices Natural Gas – Markets and Prices Petroleum – Markets and Prices for Crude Oil and Products In addition, effects are strongest at times when required energy expenditures can be expected to be high. Effects above average are found in individuals from the lowest income quartile. The effect sizes are smaller than but comparable to the effects of important personal factors of well-being. ![]() We find that energy prices have statistically and economically significant effects on subjective well-being. ![]() This paper uses data on the life satisfaction of more than 100,000 individuals in 21 European countries from 2002 to 2011, to study the relationship between subjective well-being and the affordability for households of electricity, heating oil and natural gas.
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