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Smart choices? An experimental study of smart meters and time-of-use

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The introduction of smart technology and dynamic tariffs (such as time-of-use tariffs) provides multiple potential
benefits for electricity markets. However, time-of-use tariffs generate additional complexity for consumer tariff
choices in electricity markets. How well consumers can choose between tariffs, and whether certain tools
improve these choices, are therefore important questions for energy regulators and policy makers. This paper
presents an exploratory study that used experimental behavioural science to investigate consumer choice in
electricity markets with time-of-use tariffs. A representative sample of consumers (n ¼ 145) were given information about smart meters and time-of-use tariffs. A sequence of experimental tasks measured attitudes towards
smart meters, comprehension of tariffs and quality of decisions between different types of electricity tariffs,
where quality was judged against participants’ own perceptions of their electricity usage. The findings suggest
that consumers struggle to match tariffs to usage accurately, with a general aversion to time-of-use tariffs that
may lead to sub-optimal choices between tariff types. When participants chose between different priced time-ofuse tariffs via an experimental price comparison site, decisions were significantly improved by a tool that personalised estimated costs. Policy implications include the importance of pre-testing interventions designed to
improve consumer decisions.

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Ketersediaan

EJ20302

My Library

Tersedia

Informasi Detil

Judul Seri

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No. Panggil

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Penerbit

Elsevier Ltd. : ., 2020

Deskripsi Fisik

11 p.

Bahasa

English

ISBN/ISSN

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Klasifikasi

NONE

Tipe Isi

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Tipe Media

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Tipe Pembawa

online resource

Edisi

Energy Policy 140 (2020) 111243

Subyek

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Info Detil Spesifik

Ejurnal

Pernyataan Tanggungjawab

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Versi lain/terkait

Lampiran Berkas

Komentar

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