Korean Energy Economic Review ISSN:1599-7057(Print) 에너지경제연구

This study analyses energy consumption behavior of the households using cross sectional data. It is assumed that energy consumption of the households is determined by the internal factors such as economic, demographic, and residential characteristic factors. It is further assumed that energy consumption is also affected by the external factors such as climate and energy prices. Explanatory variables used are income, energy price, the number of persons in the household, the type of the residence, the construction year, floor space, city size, and HDD(Heating Degree-Days). Heteroskedasticity, which often exists in the cross-sectional analysis, was found in our data. Consequently, FGLS (Feasible Generalized Least Squares) was used in our analysis. All the signs and magnitudes of estimated coefficients are found to be resonable and statistically significant as expected.