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).
Please note that all times are shown in the time zone of the conference. The current conference time is: 24th Aug 2026, 01:53:40am WEST
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Daily Overview |
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Electricity Markets and Regulation: The Case of Renewables Location: D-106 Session Chair: Joachim Schleich, Grenoble Ecole de Management | |
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The Efficiency of Dynamic Electricity Prices 1: Northwestern University; 2: University of California, San Diego; 3: Sloan School of Management, Massachusetts Institute of Technology; 4: Haas School of Business, University of California, Berkeley; 5: The Wharton School, University of Pennsylvania The marginal cost of electricity fluctuates hour-by-hour, yet retail customers typically face flat prices. Using data from all seven US wholesale markets and a new method to evaluate alternative rates set in advance that accounts for equilibrium price effects, we estimate efficiency gains from time-varying price schedules that better align price with cost. We have three main results. First, time-of-use rates and critical-peak pricing, the two most common time-varying rate plans, each correct about 10% of mispricing. Second, more complex rate structures based on historical prices often backfire. Third, an alternative structure, real-time pricing with price caps, can capture most potential efficiency gains. | |