José Miguel Benavente () (Departamento de Economía, Universidad de Chile) Alexander Galetovic () (Facultad de Ciencias Económicas y Empresariales, Universidad de los Andes) Ricardo Sanhueza () (Facultad de Ciencias Económicas y Empresariales, Universidad de los Andes) Pablo Serra () (Departamento de Ingeniería Industrial, Universidad de Chile)
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This paper estimates the residential outage cost in Chile’s Central Interconnected System (SIC), using consumer’s willingness to pay for energy. We first estimate the cost of reducing energy consumption efficiently, that is only the less valuable kWh (as indicated by the market demand curve) are rationed. Then we estimate the per-kWh cost of rationing by cutting off service. We find that the outage cost varies considerably depending on the length of the rationing period; and on how energy is rationed. Longer restrictions allow users to adjust more, and hence are cheaper. Similarly, we estimate that rationing efficiently is between two and six times cheaper than rationing by cutting off service
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Article provided by Ilades-Georgetown University, Economics Department in its journal Revista de Analisis Economico.
Volume (Year): 20 (2005) Issue (Month): 2 (December) Pages: 23-40 Download reference. The following formats are available: HTML
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Find related papers by JEL classification: L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
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