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Are Queensland Residents Willing and Able to Respond to Time‐Varying Electricity Prices?
Publication year - 2014
Publication title -
australian economic review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.308
H-Index - 29
eISSN - 1467-8462
pISSN - 0004-9018
DOI - 10.1111/1467-8462.12063
Subject(s) - tariff , electricity , consumption (sociology) , electricity pricing , electricity demand , peak load , agricultural economics , dynamic pricing , demand response , economics , business , marketing , electricity market , electricity generation , power (physics) , engineering , international economics , sociology , social science , nuclear engineering , physics , electrical engineering , quantum mechanics
Are Queensland residents willing and able to respond to varying electricity prices to reduce demand in peak times? To answer this, Energex and Ergon Energy conducted one of the largest tariff trials in Australia. The trial investigated time of use, dynamic peak pricing and load capacity tariffs across three climatic regions. This article presents empirical and participant survey results from the 27‐month trial. Results show participants across all regions achieved approximately a 19 per cent reduction in consumption during peak times on event days. Trial findings shed light on and challenge some long‐held views regarding pricing structures .