The Financial and Physical Insurance Benefits of Price-responsive Demand
نویسنده
چکیده
Encouraging at least some customers to see and respond to time-varying electricity prices is essential to competitive markets because electricity costs vary dramatically from hour to hour, between weekdays and weekends, and by season. Customers that see these prices and that respond (by reducing demand when prices are high and by increasing demand when prices are low) benefit all customers, not just themselves. As discussed below, this broader benefit is a consequence of the fact that reduced consumption when prices are high leads to lower prices.
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