Risk preferences, bill increases and the future reliability of electricity networks in Australia

IF 6.9 2区经济学 Q1 ENVIRONMENTAL STUDIES

Energy Research & Social Science Pub Date : 2024-09-21 DOI:10.1016/j.erss.2024.103763

Mark Tocock , Darla Hatton MacDonald , John M. Rose

{"title":"Risk preferences, bill increases and the future reliability of electricity networks in Australia","authors":"Mark Tocock , Darla Hatton MacDonald , John M. Rose","doi":"10.1016/j.erss.2024.103763","DOIUrl":null,"url":null,"abstract":"<div><div>With the rapid uptake in renewable energy there are emerging risks for countries that rapidly displace baseload generation with intermittent sources. Whilst these risks can be mitigated with storage technologies, the cost to do so, is ultimately passed onto households in the form of higher electricity bills. We use a discrete choice experiment to explore some of the potential trade-offs households might be willing to consider in order to experience lower bill increases including delaying electricity infrastructure investments as well as demand-side management policies. Respondents were asked to evaluate alternative electricity contracts with lower cost increases, delayed renewable and battery storage investments and the potential imposition of consumption limits. We also explore how household risk attitudes explain differences in compensation required within a mixed logit model. Our results suggest that households which are highly risk-averse may require more compensation.</div></div>","PeriodicalId":48384,"journal":{"name":"Energy Research & Social Science","volume":null,"pages":null},"PeriodicalIF":6.9000,"publicationDate":"2024-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2214629624003542/pdfft?md5=1e38e01acabc9f5bb63c0dd55d79e78a&pid=1-s2.0-S2214629624003542-main.pdf","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Energy Research & Social Science","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S2214629624003542","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ENVIRONMENTAL STUDIES","Score":null,"Total":0}

引用次数: 0

Abstract

With the rapid uptake in renewable energy there are emerging risks for countries that rapidly displace baseload generation with intermittent sources. Whilst these risks can be mitigated with storage technologies, the cost to do so, is ultimately passed onto households in the form of higher electricity bills. We use a discrete choice experiment to explore some of the potential trade-offs households might be willing to consider in order to experience lower bill increases including delaying electricity infrastructure investments as well as demand-side management policies. Respondents were asked to evaluate alternative electricity contracts with lower cost increases, delayed renewable and battery storage investments and the potential imposition of consumption limits. We also explore how household risk attitudes explain differences in compensation required within a mixed logit model. Our results suggest that households which are highly risk-averse may require more compensation.

查看原文本刊更多论文

澳大利亚的风险偏好、电费增长和未来电网的可靠性

随着可再生能源的迅速普及，一些国家正在面临以间歇性能源迅速取代基荷发电的风险。虽然这些风险可以通过存储技术来降低，但这样做的成本最终会以更高电费的形式转嫁给家庭。我们使用离散选择实验来探讨家庭可能愿意考虑的一些潜在权衡，以降低电费的增长，包括推迟电力基础设施投资以及需求侧管理政策。受访者被要求评估成本涨幅较低、可再生能源和电池存储投资延迟以及可能实施消费限制的替代电力合同。我们还在混合对数模型中探讨了家庭风险态度如何解释所需补偿的差异。我们的结果表明，高度规避风险的家庭可能需要更多补偿。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Energy Research & Social Science ENVIRONMENTAL STUDIES-

CiteScore

14.00

自引率

16.40%

发文量

441

审稿时长

55 days

期刊介绍： Energy Research & Social Science (ERSS) is a peer-reviewed international journal that publishes original research and review articles examining the relationship between energy systems and society. ERSS covers a range of topics revolving around the intersection of energy technologies, fuels, and resources on one side and social processes and influences - including communities of energy users, people affected by energy production, social institutions, customs, traditions, behaviors, and policies - on the other. Put another way, ERSS investigates the social system surrounding energy technology and hardware. ERSS is relevant for energy practitioners, researchers interested in the social aspects of energy production or use, and policymakers. Energy Research & Social Science (ERSS) provides an interdisciplinary forum to discuss how social and technical issues related to energy production and consumption interact. Energy production, distribution, and consumption all have both technical and human components, and the latter involves the human causes and consequences of energy-related activities and processes as well as social structures that shape how people interact with energy systems. Energy analysis, therefore, needs to look beyond the dimensions of technology and economics to include these social and human elements.