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Does Daylight Saving Time Save Electricity? Evidence from Slovakia

Peter Kudela, Tomas Havranek (), Dominik Herman () and Zuzana Irsova ()
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Peter Kudela: Institute of Economic Studies, Faculty of Social Sciences, Charles University, Opletalova 26, 110 00, Prague, Czech Republic

No 2019/4, Working Papers IES from Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies

Abstract: The European Union has recently decided to stop the policy of biannual clock changes in 2021. One reason is that the original rationale for the policy, energy savings, is not supported by a large portion of recent empirical studies. Whether the new permanent time will be standard time or the former daylight saving time has not been decided. Evidence on energy savings from daylight saving time is country-specific, and each country may choose its own time. We examine the effects of the policy in a country for which no studies on daylight saving exist, Slovakia. Using hourly data from the 2010-2017 period, we apply a difference-in-differences approach and estimate energy savings to equal 0.8% of annual electricity consumption. Alternatively, extrapolating the effect from the results of a previous meta-analysis (on different countries), for Slovakia we obtain an even smaller estimate, unlikely to exceed 0.5%. Moreover, our findings suggest that daylight saving time smooths the electricity demand curve.

Keywords: Daylight saving time; electricity consumption; peak demand; Slovakia (search for similar items in EconPapers)
JEL-codes: C54 Q41 Q48 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2019-04, Revised 2019-04
New Economics Papers: this item is included in nep-ene
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http://ies.fsv.cuni.cz/sci/publication/show/id/6020/lang/cs (application/pdf)

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