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The Power to Choose

Demand Response in Liberalised Electricity Markets

The Power to Choose by Organisation for Economic Co-operation and Development
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Highly volatile electricity prices are becoming a more frequent and unwanted characteristic of modern electricity wholesale markets. But low demand elasticity, mainly the result of a lack of incentives and consumers’ inability to control demand, means that consumer behaviour is not reflected in the cost of energy.

This study analyses the impact of price-responsive demand and shows how pricing, policy and technology can be used to inform consumer behaviour and choice. Informed choice and market-based valuation of electricity supply will ensure liberalised markets are competitive, efficient, less volatile and able to provide long term security of supply.

Significant benefits will occur even if only 5% of customers become responsive to price-incentives and information. And customers will respond to well designed programs, thereby developing a role in ensuring efficient price formulation for electricity.

This study analyses the economic, efficiency and security benefits and identifies the changes in electricity tariffs and the network infrastructure needed to achieve greater demand response.

Organisation for Economic Co-operation and Development; January 2003
156 pages; ISBN 9789264105041
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Title: The Power to Choose
Author: Organisation for Economic Co-operation and Development
 
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Dumbing kids down, one textbook at a timeRand Daily MailAs a memorable line from an Organisation for Economic Co-operation and ...