The Characterization of Consumption

Chris Harris

Chapter Chapter 6 in Fixed and Variable Costs, 2014, pp 197-198 from Palgrave Macmillan

Abstract: Abstract As noted in chapter 3, figure 26, the market paradigm of electricity is changing from inelastic stochastic consumption and flexible generation, to the reverse. One way to view this is to divide consumption into planned inelastic demand plus (i) demand elasticity that can be manifest as more demand or less demand (virtual generation) in response to price change and (ii) a stochastic function.

Keywords: Variable Cost; Fixed Cost; Demand Elasticity; Demand Response; Strike Price (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-37089-1_6

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DOI: 10.1057/9781137370891_6

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