Electricity Prices and Consumer Behavior, Case Study Serbia—Randomized Control Trials Method

Iztok Podbregar, Sanja Filipović, Mirjana Radovanović, Olga Mirković Isaeva and Polona Šprajc
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Iztok Podbregar: Faculty of Organizational Sciences, University of Maribor, Kidričeva cesta 55a, 4000 Kranj, Slovenia
Sanja Filipović: Faculty of Business, University Singidunum, Danijelova 32, 11000 Belgrade, Serbia
Olga Mirković Isaeva: Faculty of Security Studies, Educons University, 87 Vojvode Putnika Street, 21017 Sremska Kamenica, Serbia
Polona Šprajc: Faculty of Organizational Sciences, University of Maribor, Kidričeva cesta 55a, 4000 Kranj, Slovenia

Energies, 2021, vol. 14, issue 3, 1-12

Abstract: The aim of this research was to identify energy saving instructions effect on household’s electricity consumption. The research was conducted using Randomized Control Trials , which implied defining a treatment and control group on a sample of 330 households. The research was carried out in Republic of Serbia, where electricity prices are the lowest in Europe and electricity is used inefficiently. For quantitative analysis of data, the Difference in Difference method was used, which compares the changes in electricity consumption over time between the treatment and control group and estimates the overall impact of the energy saving instructions. The research showed that in situations where electricity price is very low, energy saving information does not have the significant impact on change in consumer behavior. However, inefficient use of electricity might be due to the different efficiency of heating devices used. Not only that the low impact of information on energy saving habits may be a consequence of the low will to change habit, but also of the impossibility to change the habit (unless changing the heating device, but this implies expenditures). Results can be used for consideration of changes in organization and regulation of the electricity market in all South Eastern European countries (SEE).

Keywords: electricity consumption; consumers’ behavior; Randomized Control Trials method; Difference in Difference method; case study Republic of Serbia (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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