Price responsiveness in the new electricity market: a Singapore experience

2004 IEEE International Conference on Electric Utility Deregulation, Restructuring and Power Technologies. Proceedings Pub Date : 2004-04-05 DOI:10.1109/DRPT.2004.1338466

Youngho Chang, T. H. Tay

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引用次数: 3

Abstract

When electricity prices are allowed to fluctuate freely the price could transmit valuable market information and send the right signal to rate-payers for consumption and to generation companies for production and investment. This study briefly discusses the deregulation of the Singapore electricity sector before employing a log-linear form for estimating the coefficient of price-quantity relationships in the electricity demand. Two-stage least squares regression method is used and the estimation would yield the elasticity of demand. The more elastic is the demand, the more consumption efficient is the new electricity market. This is because consumers who are allowed to choose their retailers or purchase electricity on their own behalf will be able to choose the best package and also to make more efforts to respond to price fluctuations. The analysis reveals that the market would bring about some consumption-efficiency gains. However, more research needs to be done to quantify the extent of the gains.

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新电力市场的价格响应:新加坡经验

当电价允许自由波动时，价格可以传递有价值的市场信息，并向纳税人和发电公司发出正确的信号，以供消费和生产投资。本研究在采用对数线性形式估计电力需求中的价格-数量关系系数之前，简要讨论了新加坡电力部门的放松管制。采用两阶段最小二乘回归方法，估计出需求弹性。需求越有弹性，新电力市场的消费效率就越高。这是因为消费者被允许选择他们的零售商或代表自己购买电力，将能够选择最好的套餐，也可以做出更多的努力来应对价格波动。分析表明，市场将带来一些消费效率的提高。然而，需要做更多的研究来量化收益的程度。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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2004 IEEE International Conference on Electric Utility Deregulation, Restructuring and Power Technologies. Proceedings

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