• Type Workshop
  • Date 5 June 2023
  • Time -
  • Language -


This workshop was conducted on June 5, 2023, in collaboration with SEEC, to shed light on the capabilities and limitations of behavioral economics in policymaking and prospects and new approaches in energy demand modeling. Understanding the evolution of domestic energy demand is critical for planning supply and infrastructure. Furthermore, mitigating its growth can generate significant economic and environmental benefits. The Kingdom has continued using policy levers such as fuel standards, mandates, and energy price reforms. Behavioral economics offers new opportunities for the Kingdom. It seeks to understand how people make decisions and how to nudge them into new consumption patterns. The workshop will explore how the Saudi energy ecosystem can leverage behavioral economics while reviewing traditional policy levers and energy demand projection methods. Moreover, due to the cost and complexity associated with building and maintaining models, it is essential to strengthen close cooperation between policymakers, economists, and modelers. This workshop aimed to leverage their different perspectives, discuss emerging policy questions and potential modeling gaps and build relationships that last beyond the workshop.


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