The flexibility of household electricity demand over time |
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| Institution: | 1. Applied Economics Post-Graduation Program, Federal University of Pelotas, Departamento de Economia – UFPel, Rua Gomes Carneiro, 1, Campus Porto, Pelotas, RS, Brazil;2. University of São Paulo, Department of Economics, Departamento de Economia – FEA, Av. Prof. Luciano Gualberto, 908, FEA I – Cidade Universitária, São Paulo, SP, Brazil;1. Economic and Social Research Institute, Whitaker Square, Sir John Rogerson''s Quay, Dublin, Ireland;2. Department of Economics, Trinity College, Dublin, Ireland;1. University of Heidelberg, Germany;2. Centre for European Economic Research (ZEW) L7 1, D-68161 Mannheim, Germany;1. RWI Leibniz Institute for Economic Research, Germany;2. Ruhr University Bochum, Germany |
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| Abstract: | Empirical estimates of long run effects on residential electricity demand from changes in the electricity price are usually estimated by cross-sectional variation in the current stock of electric household appliances across households at a certain point in time. Here, we use a discrete–continuous approach modeling the long run effects by investments in new appliances. We apply the annual Norwegian Survey of Consumer Expenditure for the period 1975 to 1994 to estimate the short and long run own price elasticities in the two approaches. We find the estimated long run elasticity only slightly more price elastic than the short run. We also find that the long run elasticity does not differ significantly between the two approaches. The reason for both results is that, since there is no alternative source of energy for these appliances, there are no substitution effects. |
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