Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
7165218 | Energy Conversion and Management | 2014 | 7 Pages |
Abstract
The energy price system in Beijing has not fully exploited customers' price elasticity, and has a negative impact on achieving the goals of energy saving. This paper analyses the response behaviours of different customers to typical energy prices. As for electricity self-elasticity, the range of the primary, secondary, tertiary industry and residents are â0.026 to â0.033, â0.045 to â0.059, â0.035 to â0.047 and â0.024 to â0.032, respectively. As regards self-elasticity on coal, the range of the primary, secondary, tertiary industry and residents are â0.030 to â0.037, â0.066 to â0.093, â0.055 to â0.072 and â0.034 to â0.051, respectively. The self-elasticities on oil and natural gas are very weak. As for cross-elasticity, when consuming electricity and oil, customers mainly focus on the prices of natural gas, which are 0.185 and 0.112. When consuming coal and natural gas, customers are concerned about the electricity prices, and their cross-elasticities are 0.03 and 0.36, respectively. The estimation of demand response to energy price signals in energy consumption behaviours can provide a decision support for formulating rational energy price policies.
Related Topics
Physical Sciences and Engineering
Energy
Energy (General)
Authors
Y.X. He, Y.Y. Liu, T. Xia, B. Zhou,