Aggregate industrial energy consumer response to wholesale prices in the restructured Texas electricity market

Energy Economics

Volumn 30, Issue 4, 2008, Pages 1798-1808

  Zarnikau, Jay ^a   Hallett, Ian ^a  

^a UNIVERSITY OF TEXAS AT AUSTIN   (United States)

Author keywords

Demand response; Price elasticity; Restructured market; Symmetric Generalized McFadden cost function

Indexed keywords

COSTS; ELECTRIC INDUSTRY; ELECTRIC POWER SYSTEMS; ENERGY UTILIZATION; INDUSTRIAL ECONOMICS;

DEMAND RESPONSE; PRICE ELASTICITY; RESTRUCTURED MARKET;

ELECTRICITY;

DEMAND ELASTICITY; ELECTRICITY INDUSTRY; ENERGY MARKET; INDUSTRIAL RESTRUCTURING; PRICE DYNAMICS;

NORTH AMERICA; TEXAS; UNITED STATES;

EID: 43449101867     PISSN: 01409883     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.eneco.2007.11.003     Document Type: Article

References (19)

1. Aigner D., and Hirschberg J. Commercial/industrial customer response to time-of-use electricity prices: some experimental results. Rand Journal of Economics 16 3 (1985) 341-355
2. Caves D., Eakin K., and Faruqui A. Mitigating price spikes in wholesale markets through market-based pricing in retail markets. The Electricity Journal 13 3 (2000) April
3. Demand Side Working Group of the ERCOT Wholesale Market Subcommittee. Load participation in the ERCOT market (2006). http://www.ercot.com/services/programs/load/Load%20Participation%20in%20the%20ERCOT%20Market%20May%202006.doc
4. Diewert W.E., and Wales T.J. Flexible functional forms and global curvature conditions. Econometrica 55 1 (1987) 43-68
5. Faruqui A., and George S. The value of dynamic pricing. The Electricity Journal. (2002) July
6. Federal Energy Regulatory Commission. Working Paper on Standardized Transmission Service and Wholesale Electric Market Design (2002) March 15
7. Goldman C., Hopper N., Sezgen O., Moezzi M., Bharvirkar R., Neenan B., Boisvert R., Cappers P., and Pratt D. Customer Response to Day-Ahead Electricity Prices, Case Study of RTP Program Experience in NY, LBNL-54761 (2004) June
8. ISO-New England, Staff White Paper. Controlling Electricity Costs (2006) June 1
9. Jones S., Wattles P., and Krein S. ERCOT emergency load response. PUCT demand response workshop. September 15 (2006). http://www.puc.state.tx.us/electric/projects/32853/091506/ERCOT.pdf
10. Kumbhakar S. A reexamination of returns to scale, density and technical progress in US airlines. Southern Economic Journal 57 2 (1990) 428-442
11. Kumbhakar S. Allocative distortions, technical progress, and input demand in US airlines: 1970-1984. International Economic Review 33 3 (1992) 723-737
12. Nemoto J., and Goto M. Technological externalities and economies of vertical integration in the electric utility industry. Journal of Industrial Organization 22 1 (2004) 67-81
13. Patrick R., and Wolak F. Customer Load Response to Spot Prices in England: Implications for Retail Service Design, EPRI TR-109143 Final Report (1997) November
14. Public Utility Commission of Texas. Final Order in Docket No. 23220: Petition of the Electric Reliability Council of Texas for Approval of the ERCOT Protocols (2000)
15. Taylor T., Schwarz P., and Cochell J. 24/7 hourly response to electricity pricing with up to eight summer of experience. Journal of Regulatory Economics 27 3 (2005) 235-262
16. U.S. Department of Energy. Benefits of Demand Response in Electricity Markets and Recommendations for Achieving Them: A Report to the U.S. Congress Pursuant to Section 1252 of the Energy Policy Act of 2005 (2006) February
17. Wattles P. "Pricing Overview During ERCOT Events: October 2006 thru March 2007." Presentation to the Long Term Solutions Task Force (2007) April 23
18. Wattles P. "Load Response Survey: Preliminary Results." Presentation to the Demand Side Working Group (2007) August 10
19. Zarnikau J., Landreth G., Hallett I., and Kumbhakar S.C. Industrial energy consumer response to wholesale prices in the restructured Texas electricity market. Energy - the International Journal 32 (2007) 1715-1723