Households’ Demand Response to Changes in Electricity Prices: A Microeconomic-Physical Approach
Walid Matar ()
Discussion Papers from King Abdullah Petroleum Studies and Research Center
Energy economists are interested in how a change in electricity prices prompts a response by way of end-user power demand. It is difficult to estimate price elasticities statistically if historical prices are low and change infrequently, especially in the short run. This paper extends a previous analysis by Matar (2018) that explored the merger of a residential building energy model and a utility maximization component by incorporating more demand-reducing measures within a utility-maximization framework for households. The framework is informed by the physical equations that govern how electricity is consumed.
Keywords: Electricity demand; Consumer Energy Use; Electricity consumption; Electricity prices (search for similar items in EconPapers)
Pages: 27 pages
New Economics Papers: this item is included in nep-ene, nep-reg and nep-upt
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https://www.kapsarc.org/research/publications/hous ... c-physical-approach/ First version, 2019 (application/pdf)
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Persistent link: https://EconPapers.repec.org/RePEc:prc:dpaper:ks-2019-dp51
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