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China receives great global attention for its energy consumption. To implement effective and fair policies to save energy, it is critical to understand what drives China's energy consumption and regional disparities. Most of previous studies failed to include indirect factors embodied in the inter-sectoral and regional input-output flows. Therefore, a hybrid structural decomposition analysis is conducted to explore drivers of energy consumption and regional disparities. The results present: (1) energy, directly or indirectly, is flowing from coastal regions to Northwest, Southwest and Central China. (2) The growth of residents' income to contribution of energy consumption is by 106.7% and 169.8% during 2002–2007 and 2007–2012, respectively. Meanwhile, the positive impact of income on energy consumption is larger in urban than rural areas, and the structure effect has a significantly negative impact on energy consumption in Northwest and Southwest regions. (3) By factors, the substitution effect non-energy to energy inputs in industry sector might bring more energy consumption. By sectors, the technological advancement of the non-industry sectors decreases energy consumption by 31.7% and 174.6% during 2002–2007 and 2007–2012, respectively. Technological advancement of industry sectors plays the most important role in increasing energy consumption across China. [Display omitted] • Developing a hybrid structural decomposition analysis to capture drivers of energy consumption and regional disparities. • Income effect is more important than structure effect to explain increase of energy consumption. • The impacts of technical progress on energy consumption vary by regions, factors and sectors. • The industry and income effect contribute most to the increase in the energy consumption. [ABSTRACT FROM AUTHOR]

Abstract With the shale gas revolution and the maturity of new energy technologies, the global oil-based energy pattern began to be remodeled worldwide. From the perspective of China, coal has played a dominant leading role in the energy structure. Therefore, it is becoming increasingly irrational to replace fossil fuels with oil. This paper considers the impact of fluctuations of three fossil energy (oil, coal and natural gas) prices on new energy companies stock prices to meet the needs of policy makers and investors in this rapidly developing field. Due to the incomplete substitution among fossil fuels, this paper uses the Divisia price synthesis method to synthesize these three prices into a composite price index. Furthermore, we use a variable vector autoregressive model to explore dynamic relationships among stock prices of new energy companies and technology companies, fossil energy prices and carbon futures prices. The results reveal that previous stock prices of new energy companies had the most significant impact on the current level. However, fossil energy prices account for only a small part of stock price fluctuations of new energy companies. Highlights • Synthesizing prices of coal, oil and natural gas into a Divisia price index. • Exploring impacts of fossil energy price changes on new energy stock prices. • Historical stock prices of new energy company have the most significant impact on the current level. • Technology stock prices have a greater impact on new energy stock prices than fossil energy prices. [ABSTRACT FROM AUTHOR]