Profiling potential green electricity tariff adopters: green consumerism as an environmental policy tool?

Green electricity tariffs are one means by which green consumers can contribute to a more sustainable future. This paper profiles potential adopters of green electricity tariffs. Potential adoption is measured in terms of respondents' willingness to pay a premium for green energy in a national survey of the UK population. Hypotheses based principally on the cognitive–behavioural literature on green consumerism and green energy markets are developed. These are tested using a broad range of variables, which are grouped into three categories (demographic, attitudinal and behavioural). Consistent with past research, the empirical analyses find that attitudinal variables best characterize potential adopters. Further, potential adopters are found to have higher income, be better informed with respect to energy matters, show concern for the environment and believe that individual actions can make a difference to environmental decay. The implications of these findings for marketing and environmental policy are explored. Copyright © 2010 John Wiley & Sons, Ltd and ERP Environment.     

Sind positiv eingestellte Kunden generell bereit, mehr zu zahlen?

At first sight it appears plausible that customers who display more positive evaluative reactions to a company, which previously had sold goods to them (=?supplier-related attitudes [SRA] such as customer satisfaction or loyalty), generally should be willing to pay higher prices for additional offerings of this supplier than their counterparts with less positive SRA. However, sizes of the respective correlations reported in past empirical research diverge considerably. Therefore, two empirical studies were conducted to explore the extent to which eight socio-demographic and psychographic customer characteristics influence relationships between SRA and willingness to pay intentions in the sense that the characteristics systematically increase or decrease (moderate) the considered relationships. In a first study of 238 customers of power companies, four characteristics (age, female gender, household size, electricity bill) were found to significantly negatively moderate the relationship between customers’ attitude toward their electricity supplier and their price tolerance for “green electricity” and one characteristic (involvement) was detected to have a significant negative moderating influence. A second study of 319 mobile communication customers suggested that customers’ involvement and relationship length with their current mobile services supplier positively moderated the association between the customers’ attitude toward their supplier and willingness to pay for a packet offer of their mobile service provider, whereas female gender exerted a negative moderating influence. The results imply that companies should conduct analyses aiming at the identification of socio-demo- and psychographic moderators or customer segments with heterogeneous impacts of SRA on behavioral price intentions respectively as part of their marketing planning process.     

Consumers and green electricity: profiling potential purchasers

Globally, consumers are beginning to be able to choose their electricity supplier. Increasing concerns about the environment are prompting some of them to consider ‘green’ electricity—that is, electricity that has been generated by more environmentally sustainable means (for example, solar power or wind power). This article profiles the potential purchaser of green electricity. Drawing upon the literature on green product purchasers more generally, three sets of hypotheses are presented—more specifically, it is proposed that those who would pay increasingly higher premiums for green electricity are more likely to possess particular demographic characteristics, attitudinal characteristics and socialization characteristics. Responses from a survey distributed in a major Canadian metropolitan area are then examined. Attitudinal characteristics—specifically ecological concern, liberalism and altruism—best identify the potential purchasers of green electricity. Suggestions for managers and marketers are made following these findings. Directions for future research are also presented. Copyright © 2003 John Wiley & Sons, Ltd. and ERP Environment.     

Integrating Behavioural and Branding Perspectives to Maximize Green Brand Equity: A Holistic Approach

The aim of this study is to expand the existing understanding of green consumers' behaviour by proposing and testing an integrated conceptual model that explores the influence of consumers' personal concerns for the environment and general attitudes towards green products on brand‐related knowledge structures (image and associations) and relationship preferences (trust and brand equity) for green brands. A questionnaire‐based survey method was used to collect data using convenience sampling. One hundred and ninety‐nine usable responses were obtained. A structural equation modelling procedure was used to test the proposed hypotheses. The results confirmed that a positive relationship exists between consumer concern for environmental values and general attitudes towards green products. Both these constructs influence consumers' knowledge structure of a green brand (image and associations). Furthermore, a strong relationship exists between consumers' knowledge structure (image and associations) and their relational preference (trust and brand equity) with green brands. These findings are important for business strategy formulation by providing empirical support for the idea that a firm should invest its resources not only to project its environmentally friendly brands but also to build consumers' concern for environmental values and their attitude towards green products. Copyright © 2016 John Wiley & Sons, Ltd and ERP Environment     

Is the environment‐friendly factor attractive to customers when purchasing electric vehicles? Evidence from South Korea

In a bid to reduce greenhouse gas emissions, several countries worldwide are implementing policies to promote electric vehicles (EVs). However, contrary to expectations, the diffusion speed of EVs has been rather slow in South Korea. This study analyzes consumer preferences for the technological and environmental attributes of EVs and derives policy and environmental implications to promote market diffusion of EVs in South Korea. We conduct a choice‐based conjoint survey of 1,008 consumers in South Korea and estimate the consumer utility function using a mixed logit model considering consumer heterogeneity. Based on the consumer utility function, we analyze consumers' willingness‐to‐pay (WTP) for EV attributes such as driving range, charging method, charging time, autonomous driving function, carbon dioxide (CO₂) reduction rate, and purchase price. The results indicate that the current low acceptance of EVs is due to their relatively high price and lack of a battery charging technology that satisfies consumers' expectations of the charging method and time. One interesting finding is that Korean consumers have a relatively higher WTP for the CO₂ reduction rate of EVs than consumers in other countries; however, they do not consider CO₂ reduction over other technological attributes when choosing EVs. This implies that the rate of CO₂ reduction of EVs is not an important factor for South Korean consumers when buying EVs. We also calculate the effect of CO₂ reduction with the market penetration of EVs and find that CO₂ reduction through the diffusion of EVs depends on the country's electricity generation mix.     

Forecasting electricity prices using bid data

Market liberalization and the expansion of variable renewable energy sources in power systems have made the dynamics of electricity prices more uncertain, leading them to show high volatility with sudden, unexpected price spikes. Thus, developing more accurate price modeling and forecasting techniques is a challenge for all market participants and regulatory authorities. This paper proposes a forecasting approach based on using auction data to fit supply and demand electricity curves. More specifically, we fit linear (LinX-Model) and logistic (LogX-Model) curves to historical sale and purchase bidding data from the Iberian electricity market to estimate structural parameters from 2015 to 2019. Then we use time series models on structural parameters to predict day-ahead prices. Our results provide a solid framework for forecasting electricity prices by capturing the structural characteristics of markets.     

Demand for electricity in Nigeria: Some empirical findings

This paper presents the findings from an econometric model of Nigerian electricity demand. Electricity consumers are partitioned into three classes-namely. Residential, Commercial and Industrial. It shows that over the last two decades there has been tremendous increase in both the supply and demand for electric energy. Although supply has increased, it has not been able to keep pace with demand. Various explanatory variables that determine changes in demand are analysed for each of the three consuming sectors. The findings are as follows.(i) Per capital income, previous level of electricity consumption and urbanization are the most significant explanatory variables for the Residential sector's electricity consumption. The short and long-run income elasticities are found to be below unity, while whose of urbanization are above unity. The average price of electricity, though rightly signed, was found to be insignificant.(ii) As regards the commercial sector, the significant explanatory variables were previous level of electricity consumption, income, average price of electricity and urbanization. Urbanization was, however, found to be the most sensitive variable in respect to changes in the sector's electricity demand.(iii) Previous level of industrial electricity consumption and degree of urbanization were the main explanatory variables for changes in the Industrial sector's demand for electricity. Industrial output and income were not found to be significant variables in explaining changes in the Industrial sector's demand for electricity.     

Cross‐hedging and forward‐contract pricing of electricity in the Pacific Northwest

This paper develops a linear regression model for using actively traded NYMEX natural gas futures as a cross‐hedge against electricity spot‐price risk in the Pacific Northwest and for pricing the forward contracts in the presence of temperature and hydro risks. Our approach comports with reality and provides power purchasers with an effective instrument through which they can hedge their electricity bets through natural gas futures. It also demonstrates the sharp month‐to‐month variations in the natural gas futures' optimal hedge ratios and hedge effectiveness. Finally, it finds significant risk premiums in the Pacific Northwest forward prices, supporting the hypothesis that forward‐contract buyers are relatively more risk‐averse than sellers. Copyright © 2011 John Wiley & Sons, Ltd.     

浅析窃电现象及反窃电措施

文章认为电已成为人类社会生存和发展进步所不可缺少的一种重要能源,它不仅给人类带来光明,更重要的是推动了现代化大生产和现代科技的进程。但是随着经济的发展和用电量的增大,尤其伴随着市场经济体系的建立,窃电问题变得越来越突出,国家为此蒙受了巨大的经济损失。窃电问题不仅困扰电力企业的发展,也严重影响了国家的经济建设和社会的稳定。     

Long‐run relations in European electricity prices

This paper analyses the interdependencies existing in wholesale electricity prices in six major European countries. The results of a robust multivariate long‐run dynamic analysis reveal the presence of four highly integrated central European markets (France, Germany, the Netherlands and Austria). The trend shared by these four electricity markets appears to be common also to gas prices, but not to oil prices. The existence of a common long‐term dynamics among electricity prices and between electricity prices and gas prices can be explained by the similarity of the market design across Europe and by the same marginal generation technology. Since standard unit root and cointegration tests are not robust to the peculiar characteristics of electricity prices time series, we also develop a battery of robust inference procedures that should assure the reliability of our results. Copyright © 2009 John Wiley & Sons, Ltd.     

‘We Live on Estimates': Everyday Practices of Prepaid Electricity and the Urban Condition in Maputo,Mozambique

This article examines the transition to prepaid electricity happening in Maputo, Mozambique, in order to reflect on the contemporary geographies of urban energy infrastructure and urbanization in sub‐Saharan Africa and other cities of the South. The article draws on fieldwork and archival research conducted in 2013 and 2014, arguing that prepayment constitutes a productive juncture in the urban experience of electricity infrastructure in Maputo's postcolonial moment, not merely a neutral technology or a disciplining technique of government (as argued by some scholarship). The article examines the multiple rationalities implicated in the use of the electricity infrastructure via prepayment and the organization of urban life it engenders (and of which it is also a product) by focusing on the everyday practices surrounding prepaid electricity of urban dwellers in neighbourhoods where the ‘modern infrastructural ideal' may never be fully realized. As a result, it contributes to an understanding of the experience of urban energy in cities where ‘slum urbanism', uncertainty and provisionality are dominant aspects of the urban condition.     

谈电力垄断行业的改革

电力垄断行业的改革对于我国电力行业的发展具有重要意义。这就要求相关部门人员从多个方面考虑,实现水电等可再生能源的发展,提高能源的利用效率,以此来为我国社会发展创造一个崭新的电力行业。     

A Comparison of Pay‐As‐Bid and Market‐Clearing Price Bidding Processes in Electric Utility Auctions

As the electric utility industry moves to Regional Transmission Organizations, there are more opportunities for merchant plants in selling wholesale energy to electric utilities. Two alternative bidding regimes are considered: (i) pay‐as‐bid and (ii) pay with market‐clearing bid. With stochastic price‐sensitive demand, we show that pay‐as‐bid has greater average price, but lower price variance than does market‐clearing price. Copyright © 2013 John Wiley & Sons, Ltd.     

晋城互动电视自助交纳电费系统平台研究与实现

山西晋城供电分公司积极开展多元化交纳电费工作,建设互动电视自助交纳电费系统,使得数字互动电视用户足不出户即可完成用电查询、电费查询、电费交纳等事宜,有效缓解交电费难的现状。     

Competition and Innovation in Retail Electricity Markets: Evidence from Italy

Italy's 2015 Annual Competition Law, if finally approved, provides for phasing out retail electricity price regulation, as well as the implementation of full retail liberalisation, from 1 July 2018. This is a significant reform, not just because it is consistent with the broader market design for electricity. Indeed, retail liberalisation is a qualifying element of the full integration of the European Union's electricity market. The full opening of retail markets provides a great opportunity for innovation, both on the demand side and on the supply side. This article investigates the theoretical background, and presents some empirical evidence, on the competition–innovation nexus in retail electricity markets.     

Institutional investors' attention to environmental information,trading strategies,and market impacts: Evidence from China

Using a large proprietary database of intraday high‐frequency trading, we investigate the trading strategies of institutional investors in dealing with the negative environmental event disclosure of listed companies and their impact on markets, aiming to reveal the mechanism of the lack of “green efficiency” in China's capital market from the perspective of institutional investors. The results show that institutional investors react to negative environmental events prior to the announcements, indicating premature information leakage in the market; in addition, their trading behaviors mitigate the immediate effect of negative environmental event announcements on stock price. After the event is disclosed, institutional investors engage in short‐term selling and long‐term buy and hold. This trading strategy undermines the irrational selling of individual investors in the event of disclosure, short‐term decline in stock price, and long‐term reversal of market overreaction. In a China context, institutional investors generally take environmental information into consideration. However, they fail to recognize the long‐term value effect of negative environmental events and instead cater to trading strategies towards market volatility.     

Methodological Advances in DEA: A survey and an application for the Dutch electricity sector

We survey the methodological advances in DEA over the last 25 years and discuss the necessary conditions for a sound empirical application. We hope this survey will contribute to the further dissemination of DEA, the knowledge of its relative strengths and weaknesses, and the tools currently available for exploiting its full potential. Our main points are illustrated by the case of the DEA study used by the regulatory office of the Dutch electricity sector (Dienst Toezicht Elektriciteitswet; Dte) for setting price caps.     

Mitigating climate change: A role for regulations and risk‐taking

Why do some firms engage in actions to reduce climate change? We propose two counterintuitive mechanisms: high levels of regulation and a firm's increased tolerance for risk. Drawing from insights on how institutional contexts constrain, and enable, prosocial firm behavior, we argue that external pressures, amplified internally by a firm's higher tolerance for risk, increase the likelihood that a greenhouse gas (GHG)‐intensive firm will engage in climate change actions that exceed regulatory requirements. An analysis based on 7,101 observations of U.S. publicly traded firms during the 2013 to 2015 period supports our hypotheses. Our models show high overall prediction accuracy (88.6%) using an out‐of‐time holdout sample from 2016. Moreover, we find that firms that have exhibited environmental wrongdoing are also more likely to engage in beyond‐compliance activities, which may be a form of greenwashing. Thus, more formal and informal regulatory oversight has the potential to spur positive environmental actions. This has implications for a firm's corporate social responsibility actions as well as for climate change regulatory policy.     

A two-level electricity demand model : Evaluation of the connecticut time-of-day pricing test

A two-stage budgeting model is developed for electricity demand where comsumption in each period is treated as a different commodity. A relative household demand model is first estimated, a consistent price index for electricity is constructed, and then a total electricity consumption model is estimated. Economic procedures are derived which permit application of the model to both time-of-day price situations and also declining vlock price situatiions which result in non-linear budget sets. The model is applied to both types of situations- the data from the Connecticut time-of-day pricing test as well as data from the declining block rate situation of the prevoius year. The model is also tested in a forecasting application to time-of-day customers.     

Improving Electricity Market Price Forecasting with Factor Models for the Optimal Generation Bid

In liberalized electricity markets, the electricity generation companies usually manage their production by developing hourly bids that are sent to the day‐ahead market. As the prices at which the energy will be purchased are unknown until the end of the bidding process, forecasting of spot prices has become an essential element in electricity management strategies. In this article, we apply forecasting factor models to the market framework in Spain and Portugal and study their performance. Although their goodness of fit is similar to that of autoregressive integrated moving average models, they are easier to implement. The second part of the paper uses the spot‐price forecasting model to generate inputs for a stochastic programming model, which is then used to determine the company's optimal generation bid. The resulting optimal bidding curves are presented and analyzed in the context of the Iberian day‐ahead electricity market.