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Economic mechanisms of demand management at electricity market

Author

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  • Victor Lir

    (Institute for Economics and Forecasting, Ukrainian NAS, Kyiv)

  • Oleksandr Bykonya

    (Institute for Economics and Forecasting, Ukrainian NAS, Kyiv)

Abstract

The problem of the imbalance of supply and demand at the electricity market is considered, which has deteriorated to the rolling blackout consumers and the risk of large-scale accidents in the power system nowadays. It is determined the factors that contribute to the cause necessity the implementation the new system of demand management, such as the lack of maneuvering and backup power-generating capacity, changes in the structure and modes of supply, increasing demands on quality and reliability of supply. It is proved that only direct methods of tariff regulation in modern conditions are not able to significantly affect the reduction of energy consumption and addressing the current shortage of electricity. It is proposed to use modern economic mechanisms to manage the demand for electricity, which are based on the use of information and communication technologies and the balance of interests of both suppliers and end users.

Suggested Citation

  • Victor Lir & Oleksandr Bykonya, 2015. "Economic mechanisms of demand management at electricity market," Ukrainian Journal Ekonomist, Yuriy Kovalenko, issue 2, pages 9-13, February.
    • Handle: RePEc:uje:journl:y:2015:i:2:p:9-13
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