Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Renewable energy and energy transition Location: Auditorium B: Frøystein Gjesdal Session Chair: Olli Tahvonen, University of Helsinki | |
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Self-Selection in Retail Electricity Contracts: Fixed Prices vs. Real-Time Pricing 1: Aalto University, Finland; 2: Paris-Dauphine University - PSL, France We develop a model where consumers self-select into different electricity contracts based on heterogeneity in their willingness to pay, which varies over time. We characterize the demand for two contracts: (i) a fixed-price contract and (ii) a real-time pricing contract. We then derive the contract price equilibrium under two market structures that determine which firms set the fixed price: one with competitive retailers and another with a regulated monopoly. Under retail competition, selection effects make the fixed-price contract unprofitable, leading to the first-best outcome. In contrast, a regulated monopoly must account for consumers' outside options, which can result in lower social welfare compared to a setting where real-time pricing is unavailable. Finally, we extend the model to explore cross-subsidies when consumer types are private information and discuss potential extensions to renewable integration and more complex consumer behaviors. | |