02 Residential Electricity Demand Management Through Tariff Structure: Agent-based Modeling

Rational habits in residential electricity demand

Dynamic partial adjustment models of residential electricity demand account for the fact that households may not adjust electricity consumption immediately in response to changes in prices, income, and other relevant factors, because of behavioral habits or adjustment costs for the capital stock of appliances. However, forward-looking behavior is generally neglected. Expectations about future p...

Long Term Electricity Demand Forecasting with Multi-agent-Based Model

A Hybrid Agent-Based Model for Estimating Residential Water Demand

The global effort toward sustainable development has initiated a transition in water management. Water utility companies use water-pricing policies as an instrument for controlling residential water demand. To support policy makers in their decisions, the authors have developed DAWN, a hybrid model for evaluating water-pricing policies. DAWN integrates an agent-based social model for the consum...

Agent-Based Modeling of Day-Ahead Real Time Pricing in a Pool-Based Electricity Market

In this paper, an agent-based structure of the electricity retail market is presented based on which day-ahead (DA) energy procurement for customers is modeled. Here, we focus on operation of only one Retail Energy Provider (REP) agent who purchases energy from DA pool-based wholesale market and offers DA real time tariffs to a group of its customers. As a model of customer response to the offe...

The Residential Demand for Electricity in New England

The residential demand for electricity, studied on the national level for many years, is here investigated on the regional level. A survey of the literature is first presented outlining past econometric work in the field of electrical energy demand. An econometric model is then presented using a 1970 cross-section of sixty-seven New England electric utilities and their service areas as the data...