The Long-Run Efficiency of Real-Time Electricity Pricing
نویسندگان
چکیده
منابع مشابه
The Long-Run Efficiency of Real-Time Electricity Pricing
Retail real-time pricing (RTP) of electricity – retail pricing that changes hourly to reflect the changing supply/demand balance – is very appealing to economists because it “sends the right price signals.” Economic efficiency gains from RTP, however, are often confused with the short-term wealth transfers from producers to consumers that RTP can create. Abstracting from transfers, I focus on t...
متن کاملThe Long-Run Efficiency and Distributional Effects of Real-Time Electricity Pricing
Retail real-time pricing (RTP) of electricity — retail pricing that changes hourly to reflect the changing supply/demand balance — is very appealing to economists because it “sends the right price signals.” There is, however, frequent confusion between the economic efficiency gains that would result from RTP and the wealth transfers that RTP would create. RTP-induced wealth transfers from produ...
متن کاملRethinking Real-Time Electricity Pricing
Most US consumers are charged a near-constant retail price for electricity, despite substantial hourly variation in the wholesale market price. This paper evaluates the rst program to expose residential consumers to hourly real-time pricing (RTP). I nd that enrolled households are statistically signi cantly price elastic and that consumers responded by conserving energy during peak hours, but...
متن کاملOptimising Electricity Real Time Pricing Tariffs
Electricity Real Time Pricing (RTP) tariffs inter alia have Demand Side Management (DSM) as a main aim. Customers are billed according to hourly fluctuating energy prices. Essentially RTP pricing signals can be seen as control inputs to change customer load usage. It is suggested that optimised pricing signals sent to RTP customers can lead to a much more efficient DSM initiative. This paper de...
متن کاملReal Time Pricing and Electricity Markets
Most US consumers are charged a near-constant retail price for electricity, despite substantial hourly variation in the wholesale market price. This paper evaluates a randomized experiment that exposed households to hourly real time pricing (RTP) and applies the demand estimates to counterfactual simulations in a structural model of the Pennsylvania-Jersey-Maryland electricity market. The model...
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ژورنال
عنوان ژورنال: The Energy Journal
سال: 2005
ISSN: 0195-6574
DOI: 10.5547/issn0195-6574-ej-vol26-no3-5