演讲题目：Marginal price matters: Electricity demand response to nonlinear pricing schedules
演讲嘉宾： 李江龙 教授
Understanding how electricity demand responds to prices is important for efficient market regulation and policy design, as well as planning decisions of electricity system operators. The effectiveness of nonlinear pricing schedule depends on how well consumers respond to marginal price change. With information burden and the potential minor benefits of adjusting consuming behaviors, there is little consensus about the responsiveness of electricity consumers, especially to marginal price. We exploit the unique electricity price setting institutions in China to study the responsiveness of electricity demand in the short run. Here we show that consumers may be rational enough to respond to well-informed marginal price in the case of electricity usage. We estimate that the magnitude of marginal price elasticity is smaller for households with larger usage, and the responses to marginal price would be larger in a longer period with more sufficient behavioral adjustment. The evidence also suggests that better information acquisition is associated with the larger response to marginal price changes. We anticipate this study to enhance our understanding on electricity consuming behaviors. In terms of the policy implication, exploring how consumers respond to price signals would benefit the policy makers to make optimal market-based policies, especially on climate and environmental issues.
李江龙，西安交通大学经济与金融学院教授、博士生导师。厦门大学经济学博士，哈佛大学博士后。从事能源环境经济与管理领域的研究和教学。近5年发表SSCI/SCI二区以上和中文顶级期刊论文三十多篇，独著出版专著1部。担任SSCI期刊International Journal of Climate Change Strategies and Management以及CSSCI期刊《西安交通大学学报（社科版）》编委。