By Topic

Factoring the elasticity of demand in electricity prices

Sign In

Cookies must be enabled to login.After enabling cookies , please use refresh or reload or ctrl+f5 on the browser for the login options.

Formats Non-Member Member
$33 $13
Learn how you can qualify for the best price for this item!
Become an IEEE Member or Subscribe to
IEEE Xplore for exclusive pricing!
close button

puzzle piece

IEEE membership options for an individual and IEEE Xplore subscriptions for an organization offer the most affordable access to essential journal articles, conference papers, standards, eBooks, and eLearning courses.

Learn more about:

IEEE membership

IEEE Xplore subscriptions

4 Author(s)
D. S. Kirschen ; Univ. of Manchester Inst. of Sci. & Technol., UK ; G. Strbac ; P. Cumperayot ; D. de Paiva Mendes

As electricity markets are liberalized, consumers become exposed to more volatile electricity prices and may decide to modify the profile of their demand to reduce their electricity costs. This paper analyzes the effect that the market structure can have on the elasticity of the demand for electricity. It then describes how the consumers' behavior can be modeled using a matrix of self- and cross-elasticities. It is shown how these elasticities can be taken into consideration when scheduling generation and setting the price of electricity in a pool based electricity market. These concepts are illustrated using a 26-generator system

Published in:

IEEE Transactions on Power Systems  (Volume:15 ,  Issue: 2 )