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Dynamic pricing of electricity in the mid-Atlantic region: econometric results from the Baltimore gas and electric company experiment

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  • Ahmad Faruqui
  • Sanem Sergici

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  • Ahmad Faruqui & Sanem Sergici, 2011. "Dynamic pricing of electricity in the mid-Atlantic region: econometric results from the Baltimore gas and electric company experiment," Journal of Regulatory Economics, Springer, vol. 40(1), pages 82-109, August.
    • Handle: RePEc:kap:regeco:v:40:y:2011:i:1:p:82-109
    DOI: 10.1007/s11149-011-9152-5
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    References listed on IDEAS

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    1. Thomas Taylor & Peter Schwarz & James Cochell, 2005. "24/7 Hourly Response to Electricity Real-Time Pricing with up to Eight Summers of Experience," Journal of Regulatory Economics, Springer, vol. 27(3), pages 235-262, January.
    2. Fuss, Melvyn & McFadden, Daniel (ed.), 1978. "Production Economics: A Dual Approach to Theory and Applications," Elsevier Monographs, Elsevier, edition 1, number 9780444850133.
    3. Fuss, Melvyn & McFadden, Daniel, 1978. "Production Economics: A Dual Approach to Theory and Applications (I): The Theory of Production," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, volume 1, number fuss1978.
    4. Caves, Douglas W. & Christensen, Laurits R. & Herriges, Joseph A., 1984. "Consistency of residential customer response in time-of-use electricity pricing experiments," Journal of Econometrics, Elsevier, vol. 26(1-2), pages 179-203.
    5. Fuss, Melvyn & McFadden, Daniel, 1978. "Production Economics: A Dual Approach to Theory and Applications (II): Applications of the Theory of Production," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, volume 2, number fuss1978a.
    6. Faruqui, Ahmad & Hledik, Ryan & Sergici, Sanem, 2010. "Piloting the Smart Grid," The Electricity Journal, Elsevier, vol. 22(7), pages 55-69, August.
    7. Faruqui, Ahmad & George, Stephen S., 2002. "The Value of Dynamic Pricing in Mass Markets," The Electricity Journal, Elsevier, vol. 15(6), pages 45-55, July.
    8. Ahmad Faruqui & Sanem Sergici, 2010. "Household response to dynamic pricing of electricity: a survey of 15 experiments," Journal of Regulatory Economics, Springer, vol. 38(2), pages 193-225, October.
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    Citations

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    Cited by:

    1. Daruwala, Farhad & Denton, Frank T. & Mountain, Dean C., 2020. "One size may not fit all: Welfare benefits and cost reductions with optional differentiated household electricity rates," Resource and Energy Economics, Elsevier, vol. 61(C).
    2. Todd D. Gerarden & Richard G. Newell & Robert N. Stavins, 2017. "Assessing the Energy-Efficiency Gap," Journal of Economic Literature, American Economic Association, vol. 55(4), pages 1486-1525, December.
    3. Tingwen Liu, 2015. "The Residential Demand for Electricity in South Korea," International Journal of Economics and Empirical Research (IJEER), The Economics and Social Development Organization (TESDO), vol. 3(2), pages 73-85, Fabruary.
    4. Ahmad Faruqui, Sanem Sergici, and Lamine Akaba, 2014. "The Impact of Dynamic Pricing on Residential and Small Commercial and Industrial Usage: New Experimental Evidence from Connecticut," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1).
    5. ITO Koichiro & IDA Takanori & TANAKA Makoto, 2015. "The Persistence of Moral Suasion and Economic Incentives: Field experimental evidence from energy demand," Discussion papers 15014, Research Institute of Economy, Trade and Industry (RIETI).
    6. Fumitoshi Mizutani & Takuro Tanaka & Eri Nakamura, 2015. "The Effect of Demand Response on Electricity Consumption in Japan," Discussion Papers 2015-02, Kobe University, Graduate School of Business Administration.
    7. Koichiro Ito & Takanori Ida & Makoto Tanaka, 2023. "Selection on Welfare Gains: Experimental Evidence from Electricity Plan Choice," American Economic Review, American Economic Association, vol. 113(11), pages 2937-2973, November.
    8. Carroll, James & Lyons, Seán & Denny, Eleanor, 2014. "Reducing household electricity demand through smart metering: The role of improved information about energy saving," Energy Economics, Elsevier, vol. 45(C), pages 234-243.
    9. Ivanov, Chris & Getachew, Lullit & Fenrick, Steve A. & Vittetoe, Bethany, 2013. "Enabling technologies and energy savings: The case of EnergyWise Smart Meter Pilot of Connexus Energy," Utilities Policy, Elsevier, vol. 26(C), pages 76-84.
    10. Fumitoshi Mizutani & Eri Nakamura, 2015. "An Analysis of Household Electricity Saving Behavior Using the Stochastic Frontier Function," Discussion Papers 2015-10, Kobe University, Graduate School of Business Administration.
    11. Wang, Wenjie & Ida, Takanori & Shimada, Hideki, 2020. "Default effect versus active decision: Evidence from a field experiment in Los Alamos," European Economic Review, Elsevier, vol. 128(C).
    12. Steve A. Fenrick, Lullit Getachew, Chris Ivanov, and Jeff Smith, 2014. "Demand Impact of a Critical Peak Pricing Program: Opt-in and Opt-out Options, Green Attitudes and Other Customer Characteristics," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3).
    13. Faruqui, Ahmad & Sergici, Sanem & Lessem, Neil & Mountain, Dean, 2015. "Impact measurement of tariff changes when experimentation is not an option—A case study of Ontario, Canada," Energy Economics, Elsevier, vol. 52(PA), pages 39-48.
    14. Daniel Sloot & Nico Lehmann & Armin Ardone & Wolf Fichtner, 2023. "A Behavioral Science Perspective on Consumers' Engagement With Demand Response Programs," Energy RESEARCH LETTERS, Asia-Pacific Applied Economics Association, vol. 4(1), pages 1-7.
    15. Clifton, Judith & Díaz-Fuentes, Daniel & Fernández-Gutiérrez, Marcos, 2013. "How consumers’ socio-economic background influences satisfaction: Insights for better utility regulation," MPRA Paper 47271, University Library of Munich, Germany.
    16. Peter Morris & Laurie Buys & Desley Vine, 2014. "Moving from Outsider to Insider: Peer Status and Partnerships between Electricity Utilities and Residential Consumers," PLOS ONE, Public Library of Science, vol. 9(6), pages 1-8, June.
    17. Thoa Thi Kim Nguyen & Koji Shimada & Yuki Ochi & Takuya Matsumoto & Hiroshi Matsugi & Takao Awata, 2016. "An Experimental Study of the Impact of Dynamic Electricity Pricing on Consumer Behavior: An Analysis for a Remote Island in Japan," Energies, MDPI, vol. 9(12), pages 1-22, December.
    18. Véliz, Karina D. & Kaufmann, Robert K. & Cleveland, Cutler J. & Stoner, Anne M.K., 2017. "The effect of climate change on electricity expenditures in Massachusetts," Energy Policy, Elsevier, vol. 106(C), pages 1-11.
    19. Sloot, Daniel & Scheibehenne, Benjamin, 2022. "Understanding the financial incentive conundrum: A meta-analysis of the effectiveness of financial incentive interventions in promoting energy conservation behavior," Renewable and Sustainable Energy Reviews, Elsevier, vol. 168(C).
    20. Katrina Jessoe & David Rapson, 2015. "Commercial and Industrial Demand Response Under Mandatory Time-of-Use Electricity Pricing," Journal of Industrial Economics, Wiley Blackwell, vol. 63(3), pages 397-421, September.
    21. Pratt, Bryan, 2020. "Property Tenure and Determinants of Sensitivity to Price and Non-Price Conservation Instruments," 2020 Annual Meeting, July 26-28, Kansas City, Missouri 304283, Agricultural and Applied Economics Association.
    22. Lehmann, Nico & Sloot, Daniel & Ardone, Armin & Fichtner, Wolf, 2022. "Consumer preferences for the design of a demand response quota scheme – Results of a choice experiment in Germany," Energy Policy, Elsevier, vol. 167(C).
    23. Farhad Daruwala & Frank T. Denton & Dean C. Mountain, 2017. "One Size May Not Fit All: Welfare Benefits And Cost Reductions With Differentiated Household Electricity Rates In A General Equilibrium Model," Department of Economics Working Papers 2017-03, McMaster University.
    24. James Carroll & Se n Lyons & Eleanor Denny, 2013. "Reducing Electricity Demand through Smart Metering: The Role of Improved Household Knowledge," Trinity Economics Papers tep0313, Trinity College Dublin, Department of Economics.
    25. Yu, Yihua & Guo, Jin, 2016. "Identifying electricity-saving potential in rural China: Empirical evidence from a household survey," Energy Policy, Elsevier, vol. 94(C), pages 1-9.

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    More about this item

    Keywords

    Dynamic Pricing; Experiment; Elasticity of substitution; CPP; Demand model; Rate design; L94; D04; D12;
    All these keywords.

    JEL classification:

    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
    • D04 - Microeconomics - - General - - - Microeconomic Policy: Formulation; Implementation; Evaluation
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis

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