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The Price Elasticity Of Electricity Demand In The United States
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Book Synopsis The Price Elasticity of Electricity Demand in the United States by : Paul J. Burke
Download or read book The Price Elasticity of Electricity Demand in the United States written by Paul J. Burke and published by . This book was released on 2017 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we employ a dataset of three dimensions - state, sector, and year - to estimate the short- and long-run price elasticities of state-level electricity demand in the United States. Our sample covers the period 2003-2015. We contribute to the literature by employing instrumental variable estimation approaches, using the between estimator, and pursuing panel specifications that are able to control for multiple dimensions of fixed effects. We conclude that state-level electricity demand is very price inelastic in the short run, with a same-year elasticity of -0.1. The long-run elasticity is near -1, larger than often believed. Among the sectors, it is industry that has the largest long-run price elasticity of demand. This appears to in part be due to electricity-intensive industrial activities clustering in low-price states.
Book Synopsis A Study in Econometrics: the Demand for Electricity in the United States by : Franklin M. Fisher
Download or read book A Study in Econometrics: the Demand for Electricity in the United States written by Franklin M. Fisher and published by . This book was released on 1962 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Residential Consumption of Gas and Electricity in the US by : Anna Alberini
Download or read book Residential Consumption of Gas and Electricity in the US written by Anna Alberini and published by . This book was released on 2015 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study residential demand for electricity and gas, working with nationwide household-level data that cover recent years, namely 1997-2007. Our dataset is a mixed panel/multi-year cross-sections of dwellings/households in the 50 largest metropolitan areas in the United States as of 2008. To our knowledge, this is the most comprehensive set of data for examining household residential energy usage at the national level, containing the broadest geographical coverage, and with the longest longitudinal component (up to 6 observations per dwelling). We estimate static and dynamic models of electricity and gas demand. We find strong household response to energy prices, both in the short and long term. From the static models, we get estimates of the own price elasticity of electricity demand in the -0.860 to -0.667 range, while the own price elasticity of gas demand is -0.693 to -0.566. These results are robust to a variety of checks. Contrary to earlier literature (Metcalf and Hassett, 1999; Reiss and White, 2005), we find no evidence of significantly different elasticities across households with electric and gas heat. The price elasticity of electricity demand declines with income, but the magnitude of this effect is small. These results are in sharp contrast to much of the literature on residential energy consumption in the United States, and with the figures used in current government agency practice. Our results suggest that there might be greater potential for policies which affect energy price than may have been previously appreciated.
Book Synopsis Modeling and Forecasting Electricity Loads and Prices by : Rafal Weron
Download or read book Modeling and Forecasting Electricity Loads and Prices written by Rafal Weron and published by John Wiley & Sons. This book was released on 2007-01-30 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers an in-depth and up-to-date review of different statistical tools that can be used to analyze and forecast the dynamics of two crucial for every energy company processes—electricity prices and loads. It provides coverage of seasonal decomposition, mean reversion, heavy-tailed distributions, exponential smoothing, spike preprocessing, autoregressive time series including models with exogenous variables and heteroskedastic (GARCH) components, regime-switching models, interval forecasts, jump-diffusion models, derivatives pricing and the market price of risk. Modeling and Forecasting Electricity Loads and Prices is packaged with a CD containing both the data and detailed examples of implementation of different techniques in Matlab, with additional examples in SAS. A reader can retrace all the intermediate steps of a practical implementation of a model and test his understanding of the method and correctness of the computer code using the same input data. The book will be of particular interest to the quants employed by the utilities, independent power generators and marketers, energy trading desks of the hedge funds and financial institutions, and the executives attending courses designed to help them to brush up on their technical skills. The text will be also of use to graduate students in electrical engineering, econometrics and finance wanting to get a grip on advanced statistical tools applied in this hot area. In fact, there are sixteen Case Studies in the book making it a self-contained tutorial to electricity load and price modeling and forecasting.
Book Synopsis Price Elasticity of Demand for Electricity by : Louis A. Guth
Download or read book Price Elasticity of Demand for Electricity written by Louis A. Guth and published by . This book was released on 1975 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Dept. of Energy. Office of Policy, Planning, and Analysis Publisher : ISBN 13 : Total Pages :446 pages Book Rating :4.:/5 (319 download)
Book Synopsis The Future of Electric Power in America by : United States. Dept. of Energy. Office of Policy, Planning, and Analysis
Download or read book The Future of Electric Power in America written by United States. Dept. of Energy. Office of Policy, Planning, and Analysis and published by . This book was released on 1983 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Econometric Models of U.S. Energy Demand by : Robert Halvorsen
Download or read book Econometric Models of U.S. Energy Demand written by Robert Halvorsen and published by . This book was released on 1978 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Measuring the Price Elasticity of Demand for Electric Power: the U.S. Experience by : Vincent Kerry Smith
Download or read book Measuring the Price Elasticity of Demand for Electric Power: the U.S. Experience written by Vincent Kerry Smith and published by . This book was released on 1974 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Principles of Public Utility Rates by : James C. Bonbright
Download or read book Principles of Public Utility Rates written by James C. Bonbright and published by . This book was released on 1966 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Partial Adjustment Model of U.S. Electricity Demand by Region, Season, and Sector by : Anthony C. Paul
Download or read book A Partial Adjustment Model of U.S. Electricity Demand by Region, Season, and Sector written by Anthony C. Paul and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Identifying the factors that influence electricity demand in the continental United States and mathematically characterizing them are important for developing electricity consumption projections. The price elasticity of demand is especially important, since the electricity price effects of policy implementation can be substantial and the demand response to policy-induced changes in prices can significantly affect the cost of policy compliance. This paper estimates electricity demand functions with particular attention paid to the demand stickiness that is imposed by the capital-intensive nature of electricity consumption and to regional, seasonal, and sectoral variation. The analysis uses a partial adjustment model of electricity demand that is estimated in a fixed-effects OLS framework. This model formulation allows for the price elasticity to be expressed in both its short-run and long-run forms. Price elasticities are found to be broadly consistent with the existing literature, but with important regional, seasonal, and sectoral differences.
Book Synopsis A Guide to Price Elasticities of Demand for Energy by : James A. Edmonds
Download or read book A Guide to Price Elasticities of Demand for Energy written by James A. Edmonds and published by . This book was released on 1978 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis State Energy Price and Expenditure Report by :
Download or read book State Energy Price and Expenditure Report written by and published by . This book was released on 1987 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents energy price and expenditure estimates for the 50 States, the District of Columbia, and the United States for 1970, 1975, 1980 and 1985 through 1999. The estimates are presented by energy source (e.g., petroleum, natural gas, coal and electricity) and by major consuming sector.
Book Synopsis Regional Differences in the Price-Elasticity of Demand for Energy by : J. Griffin
Download or read book Regional Differences in the Price-Elasticity of Demand for Energy written by J. Griffin and published by . This book was released on 2006 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the request of the National Renewable Energy Laboratory (NREL), the RAND Corporation examined the relationship between energy demand and energy prices with the focus on whether the relationships between demand and price differ if these are examined at different levels of data resolution. In this case, RAND compares national, regional, state, and electric utility levels of data resolution. This study is intended as a first step in helping NREL understand the impact that spatial disaggregation of data can have on estimating the impacts of their programs. This report should be useful to analysts in NREL and other national laboratories, as well as to policy nationals at the national level. It may help them understand the complex relationships between demand and price and how these might vary across different locations in the United States.
Book Synopsis Measuring Price and Income Elasticities of Residential Electricity Demand by : Atlana Puett
Download or read book Measuring Price and Income Elasticities of Residential Electricity Demand written by Atlana Puett and published by . This book was released on 2014 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Published estimates of the price elasticity of residential electricity demand range from -0.29 to -0.70, for analyses based on household level data; however, the area level estimates from range from -0.02 to -0.15. A similar pattern has been reported for estimates of the income elasticity of residential demand for electricity. Each published study relied on one type of data set (aggregated or disaggregated) and these datasets cover different time periods and locations. This raises the question: does the pattern generated by the published results reflect systematic differences generated by the use of aggregated vs. disaggregated data, or does the pattern reflect random variations in the study settings? In this research the hypothesis has been tested that the pattern generated by the published results reflects the use of aggregated vs. disaggregated data, by constructing both an individual-level dataset and a county-level dataset for one state (State of Nevada) covering the period from 2005 to 2011. Both datasets have been used to estimate household and utility level price and income elasticities of residential demand for electricity. This research shows the same pattern reported in the published studies: the magnitude of the estimated price elasticity generated by the disaggregated data exceeds the magnitude of the estimate generated by the disaggregated data. However, the magnitudes of the two income elasticities do not follow the same pattern.
Book Synopsis Regional Differences in the Price-elasticity of Demand for Energy by : Mark A. Bernstein
Download or read book Regional Differences in the Price-elasticity of Demand for Energy written by Mark A. Bernstein and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: At the request of the National Renewable Energy Laboratory (NREL), the RAND Corporation examined the relationship between energy demand and energy prices with the focus on whether the relationships between demand and price differ if these are examined at different levels of data resolution. In this case, RAND compares national, regional, state, and electric utility levels of data resolution. This study is intended as a first step in helping NREL understand the impact that spatial disaggregation of data can have on estimating the impacts of their programs. This report should be useful to analysts in NREL and other national laboratories, as well as to policy nationals at the national level. It may help them understand the complex relationships between demand and price and how these might vary across different locations in the United States.
Book Synopsis Energy Transition Metals by : Lukas Boer
Download or read book Energy Transition Metals written by Lukas Boer and published by International Monetary Fund. This book was released on 2021-10-12 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: The energy transition requires substantial amounts of metals such as copper, nickel, cobalt and lithium. Are these metals a key bottleneck? We identify metal-specific demand shocks, estimate supply elasticities and pin down the price impact of the energy transition in a structural scenario analysis. Metal prices would reach historical peaks for an unprecedented, sustained period in a net-zero emissions scenario. The total value of metals production would rise more than four-fold for the period 2021 to 2040, rivaling the total value of crude oil production. Metals are a potentially important input into integrated assessments models of climate change.
Book Synopsis The Price Elasticity of Electricity Demand Whenmarginal Incentives are Very Large by : Gauthier Lanot
Download or read book The Price Elasticity of Electricity Demand Whenmarginal Incentives are Very Large written by Gauthier Lanot and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
