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The Impacts of Real-Time Pricing: The Spanish Experience

Departments of Economics is welcoming you to online seminar with Mar Reguant, Northwestern University. While the benefits of Real-Time Pricing (RTP) of electricity are well known, less is known about their distributional impacts. In this paper, we examine the distributional impacts of RTP by leveraging on a country-wide field experiment: starting in 2014, RTP has become the default option for all Spanish households.

Welcome to Higher Seminar in Economics organised by the Department of Economics, SSE. The seminar speaker is is Mar Reguant, Associate Professor at Northwestern University. Mar's research interests include industrial organization, environmental and energy economics. Mar will present the paper "The Impacts of Real-Time Pricing: The Spanish Experience" (with Michael Cahana, Natalia Fabra and Jingyuan Wang.

ABSTRACT: While the benefits of Real-Time Pricing (RTP) of electricity are well known, less is known about their distributional impacts. In this paper, we examine the distributional impacts of RTP by leveraging on a country-wide field experiment: starting in 2014, RTP has become the default option for all Spanish households. Access to hourly consumption data for more than a year for over 4M households allows us to compute the bill impacts of the switch from flat rates to RTP. By examining the households' sociodemographic characteristics, we document who wins and who loses from RTP. We also document that consumers did not respond at all to the policy change. We determine whether residential electricity consumers can significantly reduce their bills by being more price responsive, and study how this affects the distributional impacts of RTP.

 

This is an online seminar which will take place via Zoom. The link to the seminar will be distrubted by invitation only. Please contact lyudmila.vafaeva@hhs.se if you would like to attend the seminar.

Dept. of Economics Seminar in economics

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