On the estimation of the price elasticity of electricity demand in the manufacturing industry of Colombia

Barrientos, Jorge; Velilla, Esteban; Tobón-Orozco, David; Villada, Fernando; López-Lezama, Jesús M.

doi:10.17533/udea.le.n88a05

Cited by 8 publications

(6 citation statements)

References 30 publications

(26 reference statements)

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“…This contradicts the results of previous studies (such as [23]) that found energy prices to be a key determinant for explaining GHG emissions. The rigid price elasticity of demand of fuels [46,47] shows that consumers would not react to price changes in the short term. Nevertheless, increased fuel prices may produce a substitution to more efficient or cheaper fuels in the long term, affecting accordingly carbon intensities and GHG emissions.…”

Section: Discussionmentioning

confidence: 99%

Greenhouse Gas Emissions Growth in Europe: A Comparative Analysis of Determinants

Sánchez

Martín-Ortega²

2020

Sustainability

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Understanding the underlying reasons for greenhouse gas (GHG) emissions trends in different countries is fundamental for climate change mitigation. This paper identifies the main determinants that affect GHG emissions growth and assesses their impact and differences among countries in Europe. Previous studies have produced inconclusive results and presented several limitations, such as the lack of quality of the data used, the reduced identification of determinants and the use of methods that did not enable hypothesis testing. Conversely, this research identifies an extended list of determinants of GHG emissions, performs an in-depth statistical analysis and contrasts the significance of determinants using panel data and multiple linear regression models for the period 1990–2017 for the main Eurozone countries. The study found that GDP and final energy intensity are the main drivers for the reduction of GHG emissions in Europe. Furthermore, energy prices are not significant and heterogeneous results are found for the renewable energy, fuel mix and carbon intensity determinants, pointing to a different behavior at the country level. The uneven impact of the main determinants of GHG emission growth suggest that a differentiated application of European policies at country level will enhance the efficiency of mitigation efforts in Europe.

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Section: Discussionmentioning

confidence: 99%

Greenhouse Gas Emissions Growth in Europe: A Comparative Analysis of Determinants

Sánchez

Martín-Ortega²

2020

Sustainability

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“…Conversely, various empirical studies have found evidence that the elasticity of demand is close to zero in electricity markets (Burke and Abayasekara, 2018;Zhu et al, 2018). Barrientos et al (2018) and Perez et al (2016) found similar evidence in Colombia; following the Weyl-Fabinger model, this evidence implies that pass-through in competitive electricity markets should be close to unity.…”

Section: Theoretical Framework Of Pass-through In Retail Marketsmentioning

confidence: 95%

Pass-through in Colombia’s Unregulated Retail Electricity Market

Pérez

Carabalí²,

Cerón³

2022

IJEEP

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This study analyzes the pass-through of wholesale costs to retail prices for unregulated users in the Colombian electricity market, using monthly data from 2012 to 2019. This period encompasses moments with and without an El Niño phenomenon. We use an empirical model to analyze the pass-through heterogeneity according to the characteristics of users and firms, showing that the pass-through is incomplete, differs according to the presence of El Niño, and is heterogeneous. The pass-through was greater from September 2015 to May 2016 because an El Niño caused hydrological resource scarcity and several critical thermal plants halted operations. In other words, the pass-through tends to be more comprehensive during an El Niño event. Additionally, the pass-through differs between firms with a high concentration of the market and the remaining firms and between urban and non-urban users.

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“…Specifically, with periodically collected measurements,

S_{ki}

and

\rho _j

could be estimated from the power flow model and the generation dispatch model, respectively [55, 56]. The same goes for the DR model and load forecast model [57, 58]. With these models and system measurements, we could calculate system states at the target time accordingly.…”

Section: Real‐time Pricing Response Attackmentioning

confidence: 99%

Real‐time pricing response attack in smart grid

Liu

Tian

Yuan

et al. 2022

IET Generation Trans & Dist

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Real-time pricing is an attractive tariff for demand response programs, in which consumers could provide load flexibility by adjusting their electricity consumption in response to timevarying electricity prices. This paper reveals a new threat called real-time pricing response attack (RPRA), which manipulates consumers' electricity consumption by tampering with electricity price signals. Simulations are performed in IEEE 24-bus, 39-bus, and 118-bus systems, and the results show that 8% to 28% of the transmission lines could be overloaded by the attack, which could cause serious security problems. Results of sensitivity analysis indicate that the attack effects are influenced by various factors, such as DR models, price elasticity, line capacities etc. To defend against the RPRA attack, we have proposed various detection and mitigation strategies.

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On the estimation of the price elasticity of electricity demand in the manufacturing industry of Colombia

Abstract: This paper presents an estimation of the reaction of electricity demand to changes in price levels

Cited by 8 publications

References 30 publications

Greenhouse Gas Emissions Growth in Europe: A Comparative Analysis of Determinants

Greenhouse Gas Emissions Growth in Europe: A Comparative Analysis of Determinants

Pass-through in Colombia’s Unregulated Retail Electricity Market

Real‐time pricing response attack in smart grid

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