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Customer Responsiveness to Real-Time Pricing of Electricity

The success of real-time pricing efforts will depend in large part upon the extent to which electricity consumers are able to alter their consumption patterns in response to the prices quoted by the utility. This article provides some original estimates of hourly price elasticity responses to real-time prices by large industrial energy consumers.

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Energy Specializations: Electricity – Markets and Prices ; Electricity – Policy and Regulation

JEL Codes:
D42 - Market Structure, Pricing, and Design: Monopoly
E60 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General

Keywords: Real-time pricing, Electricity, Pricing strategies, Translog cost function

DOI: 10.5547/ISSN0195-6574-EJ-Vol11-No4-6

Published in Volume 11, Number 4 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.