Economics & Sociology

ISSN: 2071-789X eISSN: 2306-3459 DOI: 10.14254/2071-789X
Index PUBMS: f5512f57-a601-11e7-8f0e-080027f4daa0

Consumer properties of the thermal and electric energy which are the products at energy markets yield interconnections that have significant impact on the laws of energy consumption. When physical or price restrictions of the thermal energy supply are present at the power markets, the shortage of energy can be compensated by an increase in electricity consumption. At the same time, it appears that the interconnection of heat and electricity consumption largely determines the model of ower supply organization. Our paper analysed social and economic properties of the energy market. We show that in the case of separate production of heat and electric energy, these products yield the properties of substitutes for the consumers at the energy market. Our results show that heat and electric energy are interchangeable and the increase in the cost of one of them leads to its replacement by the other. At the same time, we find that for the countries with the well-developed combined production of heat and electric energy from the same energy source (the so-called cogeneration) which is typical for countries with a cold climate, the interrelationship between heat and electricity acquires a complementary nature, and the rise in prices for one commodity will not necessarily lead to a significant increase in demand for the other.


1. Aste, N., Buzzetti, M., & Caputo, P. (2015). District heating in Lombardy Region (Italy): Effects of supporting mechanisms. Sustainable Cities and Society, 14, 43-55.

2. Comodi, G., Lorenzetti, M., Salvi, D., Arteconi, A. (2017). Criticalities of district heating in Southern Europe: Lesson learned from a CHP-DH in Central Italy. Applied Thermal Engineering, 112, 649-659.

3. European Commission (2015). European Cogeneration Roadmap 2015 [accessed 01-03-2018], online:

4. European Commission (2018a). EU countries reports of the national potential of cogeneration and district heating [accessed 01-03-2018], Available online:

5. European Commission (2018b). EU energy trends to 2030. [accessed 01-03-2018], Available online:

6. Gong, M., Werner, S. (2015). An assessment of district heating research in China. Renewable Energy, 84, 97-105.

7. International Energy Agency (2018). Global CHP/DHC Data. [accessed 01-03-2018], Available online:

8. Kasperowicz, R., Pinczyński, M., Kumar Tiwari, A., Nawrot, Ł. (2017). Reengineering of electricity market monitoring. Economics and Sociology, 10(4), 175-188.

9. Keles, D., Bublitz, A., Zimmermann, F., Genoese, M., Fichtner, W. (2016). Analysis of design options for the electricity market: The German case. Applied Energy, 183, 884-901.

10. Konova, O., Komarov, I., Lisin, E. (2012). The relevance of power generating capacities based on the combined cycle power plants of high power. Czech Journal of Social Sciences, Business and Economics, 1(1), 101-109.

11. Lei, N., Chen, L., Sun, C., Tao, Y. (2018). Electricity market creation in China: policy options from political economics perspective. Sustainability, 10, 1481-1496.

12. Li, H., Sun, Q., Zhang, Q., Wallin, F. (2015). A review of the pricing mechanisms for district heating systems. Renewable and Sustainable Energy Reviews, 42, 56-65.

13. Lisin, E., Lozenko, V., Komarov, I., Zlyvko, O. (2015). Business competitiveness of Russian power plants in current market situation. Transformation in Business & Economics, 14, 557-574.

14. Lisin, E., Sobolev, A., Strielkowski, W., Garanin, I. (2016). Thermal efficiency of cogeneration units with multi-stage reheating for Russian municipal heating systems. Energies, 9(4), 269.

15. Lisin, E., Marishkina, Y., Strielkowski, W., Streimikiene, D. (2017). Analysis of competitiveness: energy sector and the electricity market in Russia. Economic Research – Ekonomska Istraživanja, 30(1), 1820-1828.

16. Lisin, E., Shuvalova, D., Volkova, I., Strielkowski, W. (2018). Sustainable development of regional power systems and the consumption of electric energy. Sustainability, 10(4), 1111-1121.

17. Lisin, E., Strielkowski, W. (2014). Modelling new economic approaches for the wholesale energy markets in Russia and the EU. Transformation in Business & Economics, 13, 566-580.

18. Naoumova, I. (2015). Liberalization of the electricity market in Russia: the tool of the growing democracy or dictatorship? In: Emerging Markets and the Future of the BRIC Nations, Edward Elgar Publishing, Massachusetts, 97-110.

19. Pinczynski, M., Kasperowicz, R. (2016). Overview of electricity market monitoring. Economics and Sociology, 9(4), 153-167.

20. Samarina, V., Skufina, T., Samarin, A., Ushakov, D. (2018). Alternative energy sources: Opportunities, experience and prospects of the Russian regions in the context of global trends. International Journal of Energy Economics and Policy, 8(2), 140-147.

21. Sayegh, M. A., Danielewicz, J., Nannou, T., Miniewicz, M., Jadwiszczak, P., Piekarska, K., & Jouhara, H. (2017). Trends of European research and development in district heating technologies. Renewable and Sustainable Energy Reviews, 68, 1183-1192. https:/

22. Stennikov, V. A., Iakimetc, E. E. (2016). Optimal planning of heat supply systems in urban areas. Energy, 110, 157-165.

23. Strielkowski, W., Lisin, E., Tvaronavičienė, M. (2016). Towards energy security: sustainable development of electrical energy storage. Journal of Security & Sustainability Issues, 6(2), 235-244.

24. Simionescu, M., Albu, L. L., Raileanu Szeles, M., & Bilan, Y. (2017). The impact of biofuels utilisation in transport on the sustainable development in the European Union. Technological and Economic Development of Economy, 23(4), 667-686.

25. Štreimikienė, D., Strielkowski, W., Bilan, Y., Mikalauskas, I. (2016). Energy dependency and sustainable regional development in the Baltic states: A review. Geographica Pannonica, 20(2), 79-87.

26. Tvaronavičienė, M., Prakapienė, D., Garškaitė-Milvydienė, K., Prakapas, R., Nawrot, Ł., (2018). Energy efficiency in the long-run in the selected European countries. Economics and Sociology, 10(2), 21-32. doi:10.14254/2071-789X.2017.

27. Ushakov, D., Akhmetova, S.G., Nevskaya, L. V. (2017). Economic growth and environmental performance: Correlation issues and future priorities. International Journal of Ecological Economics and Statistics, 38(4), 164-172.

28. Ushakov, D., Kharchenko, L. (2018). Environmental factors of national competitiveness in modern MNCs’ development. International Journal of Ecological Economics and Statistics, 38(2), 141-149.

29. Webb, J. (2015). Improvising innovation in UK urban district heating: The convergence of social and environmental agendas in Aberdeen. Energy Policy, 78, 265-272.

30. Werner, S. (2017). International review of district heating and cooling. Energy, 137, 617-631.

31. Wissner, M. (2014). Regulation of district-heating systems. Utilities Policy, 31, 63-73.

32. Wu, Y., Yu, Z., Ngan, H. W., Tan, Z. (2014). Sustaining China׳ s electricity market development. Energy policy, 73, 30-37.

33. Zlyvko, O., Lisin, E., Rogalev, N., Kurdiukova, G. (2014). Analysis of the concept of industrial technology platform development in Russia and in the EU. International Economics Letters, 3(4), 124-138.