Modelling Electricity Demand Response: A Meta-Analysis

Kenneth H. Tiedemann

Keywords

Demand response, Critical peak pricing, Time of use rates

Abstract

In efficient markets, price and quantity respond to changes in demand and supply conditions so that there are no shortages and prices reflect marginal costs of supply. These conditions are often not met in retail electricity markets, and this suggests that demand response programs may increase economic efficiency. The first demand response programs were time of use rates, and these were followed by critical peak pricing and enabling technologies including direct load control measures. This study presents the first meta-analysis of residential demand response programs. The findings of this work should be useful in the design and implementation of future residential demand response programs.

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