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IGIDR Seminar: ” How aggregate electricity demand responds to hourly wholesale price fluctuations “

Date June 19 @ 4:15 pm - 5:30 pm

Seminar 19-06-2024


Electricity needs to be consumed at the very moment of production, leading wholesale prices to fluctuate widely at (sub-)hourly time scales. This article investigates the response of aggregate electricity demand to such price variations. Using wind energy as an instrument, we estimate a significant and robust short-term price elasticity of about −0.05 in Germany and attribute this to industrial consumers. As the share of consumption that is exposed to real-time prices (currently less than 25%) expands, we expect the aggregated price elasticity to grow.


June 19
4:15 pm - 5:30 pm
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