Time-of-use pricing and electricity demand response: evidence from a sample of Italian industrial customers
AbstractThe introduction of real time pricing in many wholesale market as well as the liberalisation process involving the retail market poses the attention over the measurement of demand response to time differentiated price signals. This paper shows an example of how to estimate elasticities of substitution across time using a sample of Italian industrial customers facing time-of-use (TOU) pricing schemes. The model involves the estimation of a nested constant elasticity of substitution (CES) input demand function, which allows estimating substitutability of electricity usage across hourly intervals within a month and across different months.
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Bibliographic InfoArticle provided by Inderscience Enterprises Ltd in its journal Int. J. of Applied Management Science.
Volume (Year): 1 (2008)
Issue (Month): 1 ()
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Web page: http://www.inderscience.com/browse/index.php?journalID=286
electricity market; time-of-use pricing; substitution elasticity; retail competition; electricity demand; Italy; industrial customers; real time pricing; electricity usage.;
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