Selected econometric studies of the demand for electricity: review and discussion

Technical Report · Sat Nov 01 04:00:00 EST 1975

OSTI ID:7283600

Mitchell, B M; Acton, J P; Mowill, R S

Published research to date is reviewed and considered unreliable for predicting the impact on electricity consumption of revised rate levels or structures. Such research should include measurement of consumer demand at different prices, and at different times of the day or season. Hearings were held in California to review the different econometric specification types, different price variable specifications, and the choice of a unit of anlaysis for empirical estimates. An understanding of demand elasticities is needed for predicting future consumption and the consequences of natural and policy changes. A good empirical demand study should use marginal price rather than average price, include stocks of energy-consuming appliances, include other types of available energy, separate short-term from long-term adjustments, and select a unit of analysis that can be measured accurately and provides the information needed. An overview of major demand studies is included in chart form. (26 references) (DCK)

• Research Organization: RAND Corp., Santa Monica, Calif. (USA); Rand Corp., 1700 Main St., Santa Monica, CA 90406
• OSTI ID: 7283600
• Report Number(s): P-5544
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
292000 -- Energy Planning & Policy-- Supply
Demand & Forecasting
296000* -- Energy Planning & Policy-- Electric Power
CHARGES
CONSUMPTION RATES
ECONOMETRICS
ECONOMICS
ELECTRICITY
ENERGY DEMAND
ENERGY POLICY
GOVERNMENT POLICIES
HEARINGS
PEAK-LOAD PRICING
POWER DEMAND