Type
Article
Titre
Real-time pricing when some consumers resist in saving electricity
Éditeur
GB : Butterworth-Heinemann
Volume
59
Pages
843 - 849 p.
ISSN
03014215
DOI
10.1016/j.enpol.2013.04.050
Mots clés
Real-time pricing, Energy conservation, Price discrimination
Résumé
EN
Successful real-time electricity pricing depends firstly upon consumers' willingness to subscribe to such terms and, secondly, on their ability to curb consumption levels. The present paper addresses both issues by considering consumers differentiated by their electricity saving costs, half of whom resist saving electricity. We demonstrate that when consumers are free to adopt real-time prices, producers prefer charging inefficient prices and, in so doing, discriminate against that portion of the consumer population which faces no saving costs. We also find that efficient marginal cost pricing is feasible, but is incompatible with mass adoption of real-time prices.
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