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Residential End-use Electricity Demand: Implications for Real Time Pricing in Sweden

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Abstract:
Using a unique and highly detailed data set on energy consumption at the appliance-level for 200 Swedish households, seemingly unrelated regression (SUR)based end-use specific load curves are estimated. The estimated load curves are then used to explore possible restrictions on load shifting (e.g. the office hours schedule) as well as the cost implications of different load shift patterns. The cost implications of shifting load from "expensive" to "cheap" hours, using the Nord pool spot prices as a proxy for a dynamic price, are computed to be very small; roughly 2-4% reduction in total daily cost from shifting load up to five hours ahead, indicating small incentives for households (and retailers) to adopt dynamic pricing of electricity. Keywords: Direct Metering, Residential Electricity Demand, Real time electricity pricing

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Energy Specializations: Renewables – Hydroelectricity; Energy and the Economy –Economic Growth and Energy Demand; Electricity – Generation Technologies; Electricity – Markets and Prices ; Energy and the Economy –Economic Growth and Energy Demand; Energy Efficiency – Residential and Commercial Buildings

JEL Codes:
Q01 - Sustainable Development
O13 - Economic Development: Agriculture; Natural Resources; Energy; Environment; Other Primary Products
Q2 -
D42 - Market Structure, Pricing, and Design: Monopoly
Q59 - Environmental Economics: Other

Keywords: Direct Metering, Residential Electricity Demand, Real time electricity pricing

DOI: 10.5547/01956574.37.4.mves

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Published in Volume 37, Number 4 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.