Residential Electricity Demand Under Time-of-Day Pricing

Exploratory Data Analysis from the Los Angeles Rate Study

by Willard G. Manning, Jan Paul Acton


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This analysis seeks statistically reliable estimates of response to time-of-day (TOD) pricing, concentrating on statistical issues rather than solely economic ones. The main purpose is to urge analysts to apply exploratory data analysis with relatively simple, "model free" specifications before analyzing TOD response with a more highly structured set of economic demand equations. Such an exploratory analysis with a large set of experimental data is illustrated and the estimates and statistical tests that result are reported. The results are highly statistically significant and the model leads to good predictions, corresponding well with the price elasticities estimated by other researchers in more highly structured models applied to other experimental data sets.

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