Nudging electricity consumption using TOU pricing and feedback: evidence from Irish households
Valeria Di Cosmo and
Journal of Economic Psychology, 2017, vol. 61, issue C, 1-14
This paper analyses the electricity usage of 5000 Irish residential consumers in response to the introduction of Time Of Use (TOU) tariffs and three different forms of financial feedback: immediate feedback from in-home displays (IHD), monthly billing and bimonthly billing. Half-hourly data on consumption collected during the trial indicated that TOU tariffs reduced consumption at peak, with some reductions lasting beyond the end of the peak period and post-peak spikes in usage were not observed. IHD feedback resulted in the most reliable reductions and bimonthly billing the least. Moreover, consumers slightly increase the electricity usage during the first hours of the night and early in the morning. Households with greater education react to the information associated to the TOU tariffs slightly more than the average.
Keywords: Demand management; Smart meter trials; Information; TOU tariffs; Household behaviour (search for similar items in EconPapers)
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Working Paper: Nudging Electricity Consumption Using TOU Pricing and Feedback: Evidence from Irish Households (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:joepsy:v:61:y:2017:i:c:p:1-14
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