Reacción a "Reactions to study estimating the economic impact of the energy crisis on households around the world"

The article 'Burden of the global energy price crisis on households' by Yuru Guan et al, published in the journal Nature Energy, presents a model for estimating the impact of rising energy prices on households.  

The model is characterised, among others, by three elements: 

1. Incorporating direct and indirect assessments of the impact of rising energy prices through expenditure groups representing populations with different levels of consumption, which in turn correspond to 116 countries in the world.  
2. Create scenarios of the evolution/impact of the prices of the main fossil fuels and direct derivatives (coal, oil and natural gas). The time period considered is from February to September 2022. 
3. Consider the input/output level on a multi-regional basis to analyse in more detail the impact of price changes on household energy budgets. 

The authors conclude as a result that households' energy costs increased by between 63% and 113%, resulting in an increase of between 2.7% and 4.8% in household expenditure, which translates into an increase in poverty in general and energy poverty in particular. 

These results are compatible with the energy and supply crisis situation resulting from the war in Ukraine, the dependence on energy supplies and the geopolitical tensions involved. The reaction of the governments of the affected countries was to implement shock absorption and direct aid packages, as well as to reduce dependency on energy and material supplies from the conflict zone.  

Undoubtedly, the authors are right to call for specific action for the most affected population, which limits or prevents access to basic goods and services, although I would also recommend addressing the incorporation of renewable energy prices into the model, the impact of the energy pricing system itself and its relationship with the financial system.