Pradžia: 2019-09-09 16:00
Pabaiga: 2019-09-09 17:00

Vieta: 402 aud.

Pranešėjas: Rimvydas Baltaduonis (Gettysburg koledžas, JAV)
Pavadinimas: Retail Demand-Side Response under Alternative Electricity Pricing Contracts 
Bendraautoriai: Tom Ancev (University of Sydney), Tim Capon (University of Sydney), Taylor Smart (Gettysburg College)


Santrauka: The deregulation of electric power industry around the world has prompted a need to engage retail consumers more directly into the newly formed electricity markets. Various retail electricity pricing schemes have been suggested and implemented ranging from traditional pricing based on a flat rate tariff to time-of-use pricing, critical-peak and even real-time pricing. Despite the hundred-billion-dollar value that the industry creates, the economics literature that evaluates the relative performance of such pricing schemes remains sparse. This study uses economics experiments to directly compare the efficiency of flat rate, time-of-use and real-time pricing contracts. This enables us to examine the ability of these alternative pricing schemes to facilitate efficient demand-side responses to supply-side cost shocks. Significant allocative inefficiencies are identified under less dynamic pricing schemes. On the other hand, the real-time pricing results in most efficient retail consumption patterns, but only when the information on wholesale market prices is instantly and readily available.


Seminaras vyks anglų kalba. Ekonomikos krypties doktorantų dalyvavimas yra privalomas.

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Speaker: Rimvydas Baltaduonis (Gettysburg College, USA)
Title: Retail Demand-Side Response under Alternative Electricity Pricing Contracts 
Co-authors: Tom Ancev (University of Sydney), Tim Capon (University of Sydney), Taylor Smart (Gettysburg College)

Abstract: The deregulation of electric power industry around the world has prompted a need to engage retail consumers more directly into the newly formed electricity markets. Various retail electricity pricing schemes have been suggested and implemented ranging from traditional pricing based on a flat rate tariff to time-of-use pricing, critical-peak and even real-time pricing. Despite the hundred-billion-dollar value that the industry creates, the economics literature that evaluates the relative performance of such pricing schemes remains sparse. This study uses economics experiments to directly compare the efficiency of flat rate, time-of-use and real-time pricing contracts. This enables us to examine the ability of these alternative pricing schemes to facilitate efficient demand-side responses to supply-side cost shocks. Significant allocative inefficiencies are identified under less dynamic pricing schemes. On the other hand, the real-time pricing results in most efficient retail consumption patterns, but only when the information on wholesale market prices is instantly and readily available.


Seminar language: English. PhD students in Economics are expected to attend the seminar.

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