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Optional Time-of-Use Prices for Electricity: Econometric Analysis of Surplus and Pareto Impacts

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  • Kenneth Train
  • Gil Mehrez

Abstract

We estimate a model of time-of-use (TOU) consumption and choice among optional TOU tariffs in which the customer's choice among tariffs is based on its demand parameters, which vary in the population. We simulate the impact on consumption, consumer surplus, and profit of several optional TOU rates that were offered experimentally in northern California. The analysis suggests that, with one possible exception, the offering of these optional rates did not constitute a Pareto improvement. However, total surplus, excluding measurement costs, is estimated to have risen by $1.41 to $2.55 per month per customer who chose the TOU rates.

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Bibliographic Info

Article provided by The RAND Corporation in its journal RAND Journal of Economics.

Volume (Year): 25 (1994)
Issue (Month): 2 (Summer)
Pages: 263-283

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Handle: RePEc:rje:randje:v:25:y:1994:i:summer:p:263-283

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Cited by:
  1. Tanaka, Makoto & Ida, Takanori, 2013. "Voluntary electricity conservation of households after the Great East Japan Earthquake: A stated preference analysis," Energy Economics, Elsevier, Elsevier, vol. 39(C), pages 296-304.
  2. Chu, Xuehao, 1999. "Alternative congestion pricing schedules," Regional Science and Urban Economics, Elsevier, Elsevier, vol. 29(6), pages 697-722, November.
  3. Sudarshan, Anant, 2013. "Deconstructing the Rosenfeld curve: Making sense of California's low electricity intensity," Energy Economics, Elsevier, Elsevier, vol. 39(C), pages 197-207.
  4. Ariel Casarin, 2014. "Regulated price reforms and unregulated substitutes: the case of residential piped gas in Argentina," Journal of Regulatory Economics, Springer, Springer, vol. 45(1), pages 34-56, February.

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