Title: Rethinking real-time electricity pricing

Type Dataset Allcott, Hunt (2018): Rethinking real-time electricity pricing. Harvard Dataverse. Dataset. https://dataverse.harvard.edu/dataset.xhtml?persistentId=doi:10.7910/DVN/9JWZVT

Authors: Allcott, Hunt (New York University) ; Allcott, Hunt (New York University) ;

Links

• Item record in Abdul Latif Jameel Poverty Action Lab Dataverse
• Digital object URL

Summary

Most US consumers are charged near-constant retail price for electricity, despite substantial hourly variation in the wholesale market price. This paper evaluates the first program to expose residential consumers to hourly real-time pricing (RTP). I find that enrolled households are statistically significantly price elastic and that consumers responded by conserving energy during peak hours, but remarkably did not increase average consumption during off-peak times. The program increased consumers surplus by $10 per household per year. While this is only one to two percent of electricity costs, it illustrates a potential additional benefit from investment in retail Smart Grid applications, including the advanced electricity meters required to observe a household's hourly consumption.

More information

• DOI: 10.7910/DVN/9JWZVT

Subjects

• Social Sciences, real time electricity pricing, energy demand, randomized field experiments

Dates

• Publication date: 2018
• Submitted: January 17, 2018
• Updated: July 25, 2018

Rights

• info:eu-repo/semantics/openAccess
• https://creativecommons.org/publicdomain/zero/1.0/ CC0 Waiver

Format

electronic resource

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