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on Regulation |
| By: | Ciara?n Mac Domhnaill; L. (Lisa B.) Ryan |
| Abstract: | The twenty-first century must see a decarbonisation of electricity production to mitigate the flow of greenhouse gas emissions into the atmosphere. This paper presents an econometric analysis of the factors that motivate the use of renewable energy in electricity production using panel data from EU Member States during the period 2000-2015. The research extends the literature in this area in several ways. Firstly, the econometric analysis is focused on the electricity sector rather than on the overall primary energy supply, which also includes the diverse heating and transport sectors. In addition, an alternative public policy variable is proposed using the tax and levy component of electricity bills. Furthermore, an alternative econometric approach is employed using a hybrid mixed effects estimator. The results of this analysis are found to be broadly as expected, with mixed fossil fuel price effects; electricity grid interconnection and higher levels of greenhouse gas emissions both motivate the development of renewable electricity. Policy implications are that policy support for fossil fuels should be ceased; electricity grid interconnections should be developed between countries; and furthermore, levies on retail electricity prices to fund RE support schemes are effective at promoting renewable electricity. |
| Keywords: | Renewable electricity policy; Energy economics; Climate policy; Hybrid mixed effects econometric model |
| JEL: | Q21 Q4 Q41 Q42 Q58 |
| Date: | 2018–12 |
| URL: | http://d.repec.org/n?u=RePEc:ucn:wpaper:201823&r=all |
| By: | L. (Lisa B.) Ryan; Sarah La Monaca; Linda Mastrandrea; Petr Spodniak |
| Abstract: | Legacy electricity retail tariffs are ill-adapted to future electricity systems and markets, particularly with regard to accommodating the multi-faceted shift toward decarbonisation. We examine how retail tariffs need to be reformed to not only meet the future revenue requirements of energy-suppliers and networks but also to help achieve the environmental objectives of the energy transition. While existing literature has explored the link between retail tariff structure design, wholesale markets and/or network cost recovery, there is less recognition of the impact of tariff structure design on environmental objectives. This paper reviews the demand responsiveness of household customers to electricity prices and implications of retail tariff structure and design for the policy targets of CO2 emissions, energy efficiency, and renewable electricity generation, in addition to electricity system. A review of the literature provides a theoretical basis for price elasticity of demand and electricity retail tariff design, and we explore the environmental implications for future retail tariff design options via examples of various tariff structures in the EU and US. The research links the topics of emissions mitigation policy and market design, and should add empirical insights to the body of academic literature on future electricity markets. It should also be of interest to policy makers wishing to consider retail tariff structures that promote decarbonisation of the electricity system through multiple objectives of improved energy efficiency and increased shares of renewable electricity within future electricity markets. |
| Keywords: | Electricity retail tariffs; Electricity prices; Energy policy; Decarbonisation of electricity |
| JEL: | H2 Q21 Q41 Q42 |
| Date: | 2018–12 |
| URL: | http://d.repec.org/n?u=RePEc:ucn:wpaper:201822&r=all |
| By: | Antoine Dechezleprêtre; Caterina Gennaioli; Ralf Martin; Mirabelle Muûls; Thomas Stoerk |
| Abstract: | Does unilateral climate change policy cause companies to shift the location of production, thereby creating carbon leakage? In this paper, we analyse the effect of the European Union Emissions Trading System (EU ETS) on the geographical distribution of carbon emissions of multinational companies. The empirical evidence is based on unique data for the period 2007-2014 from the Carbon Disclosure Project, which tracks emissions of multinational businesses by geographical region. Because they already operate from multiple locations, multinational firms should be the most prone to carbon leakage. Our data includes regional emissions of 1,122 companies, of which 261 are subject to EU ETS regulation. We find no evidence that the EU ETS has led to a displacement of carbon emissions from Europe towards the rest of the world, including in countries with no climate policy in place and within energy-intensive companies. A large number of robustness checks confirm this finding. Overall, the paper suggest that modest differences in carbon prices between countries do not induce carbon leakage. |
| Keywords: | carbon leakage, EU ETS, multinationals |
| JEL: | D22 F23 Q56 Q58 |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepdps:dp1601&r=all |
| By: | Newbery, D. |
| Abstract: | The UK privatized the electricity supply industry from 1989 in the expectation that private ownership and incentive regulation would invest and operate sufficiently more efficiently to offset the higher cost of private finance. This was achieved in the first two decades, assisted by spare capacity, contract-based entry of new efficient and cheap CCGTs, and regulatory pressure on transmission and distribution companies. The climate change imperative to decarbonize requires massive durable and very capital-intensive investment that casts doubt on the liberalised financing model. In the past 30 years, much has been learned about mitigating market power, the failings of an energy-only market, and the potential distortions of poorly designed prices for renewables and tariffs for networks. Innovation has been successfully stimulated though competitions. Efficiency, falling renewable costs and the carbon tax have almost completely driven coal out of the system. |
| Keywords: | British electricity supply, reforms, financing, renewables, tariffs, nuclear |
| JEL: | D43 H23 L94 Q48 Q54 |
| Date: | 2019–02–27 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:1917&r=all |
| By: | Özdemir, Ö.; Hobbs, B.; van Hout, M., Koutstaal, P.; Koutstaal, P. |
| Abstract: | Policy makers across Europe have implemented renewable support policies with several policy objectives in mind. Among these are achieving ambitious renewable energy targets at the lowest cost and promoting technology improvement through learning-by-doing. Although subsidy mechanisms based on energy out-put are cost-effective for achieving a certain renewable energy target in the short run, policies tied to capacity installation might be more effective in reducing technology costs in the longer term. We address the question of how policies that subsidize renewable energy (feed-in premia and renewable portfolio standards (RPSs)) versus capacity (investment subsidies) impact the mix of renewable investments, electricity costs, renewable share, the amount of subsidies, and consumer prices in the EU electric power market in 2030. Our analysis is unique in its focus on the market impacts of capacity-oriented vs energy-oriented policies while considering a realistic landscape of diverse and time-varying loads and renewable resources (including existing and potential hydro, wind, and solar resources), as well as fossil-fuelled generators and network constraints. |
| Keywords: | Electricity markets, renewable policy, capacity subsidy, energy subsidy, renewable target |
| JEL: | D7 D72 D74 F13 F23 F51 F53 |
| Date: | 2019–03–13 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:1927&r=all |
| By: | Perino, Grischa; Ritz, Robert; Van Benthem, Arthur |
| Abstract: | We present an integrated framework to understand the emissions impact of unilateral overlapping policies within a carbon-pricing system. "Internal carbon leakage" captures emissions displacement within the system (e.g., due to greater product imports from a neighbouring country). The waterbed effect captures the policy's interaction with the system's overall emissions cap. Current market rules in the reformed EU ETS, California's carbon market and RGGI feature "punctured" waterbeds that allow overlapping policies to affect aggregate emissions. We present simple formulae to estimate internal carbon leakage for different types of policy such as a carbon price floor (perhaps with a border tax adjustment), an energy efficiency program, and renewables support. The sign and magnitude of the climate benefit from an overlapping policy varies widely depending on its design, location and timing. Punctured waterbeds raise the stakes: well-designed overlapping policies can be much more climate-effective but others now backfire. |
| Keywords: | cap-and-trade; Carbon leakage; carbon price floor; Carbon Pricing; EU ETS; hybrid policy; overlapping policy; Waterbed effect |
| JEL: | H23 Q54 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:13569&r=all |
| By: | Chyong, C-K. |
| Abstract: | Recent gas price dynamics in Europe shows convergence to the extent that locational price differentials approached transport tariffs and hence arbitrage was largely saturated – it is a sign of a well-functioning pan-European gas wholesale market. We employ a transaction cost economics framework to understand how we got to where we are in terms of the evolution of the gas industry structure in Europe and its institutional setup. The move towards a single market in gas, which is still ongoing, has allowed European gas consumers to benefit from transparently set, market-based wholesale prices as well as from increased market competition between suppliers. However, as the gas market in Europe matures and with the increased penetration of renewable energy generation in the electricity sector as well as overall decarbonization of the energy sector in Europe, the gas market and its current regulatory regime face a number of challenges. Addressing these challenges may require an update to the current market design and possibly drastic reforms to tariff setting in the gas transport market. |
| Keywords: | Natural gas, European single gas market, security of supply, regulatory policy |
| JEL: | L94 |
| Date: | 2019–02–27 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:1918&r=all |
| By: | Sarfati, M.; Hesamzadeh, M-R.; Holmberg, P. |
| Abstract: | Electricity markets employ different congestion management methods to handle the limited transmission capacity of the power system. This paper compares production efficiency and other aspects of nodal and zonal pricing. We consider two types of zonal pricing: zonal pricing with Available Transmission Capacity (ATC) and zonal pricing with Flow-Based Market Coupling (FBMC).We develop a mathematical model to study the imperfect competition under zonal pricing with FBMC. Zonal pricing with FBMC is employed in two stages, a day-ahead market stage and a re-dispatch stage. We show that the optimality conditions and market clearing conditions can be reformulated as a mixed integer linear program (MILP), which is straightforward to implement. Zonal pricing with ATC and nodal pricing is used as our benchmarks. The imperfect competition under zonal pricing with ATC and nodal pricing are also formulated as MILP models. All MILP models are demonstrated on 6-node and the modified IEEE 24-node systems. Our numerical results show that the zonal pricing with ATC results in large production inefficiencies due to the incdec-game. Improving the representation of the transmission network as in the zonal pricing with FBMC mitigates the inc-dec game. |
| Keywords: | Congestion management, Zonal pricing, Flow-based market coupling |
| JEL: | C61 C72 D43 L13 L94 |
| Date: | 2019–02–27 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:1919&r=all |
| By: | Unsorg, Maximiliane |
| Abstract: | Constantly rising expenditures for pharmaceuticals require government intervention in firms' pricing decisions. To this end, reference pricing systems are a frequently employed regulatory mechanism. This paper considers a duopoly market with vertically differentiated firms under different competition types. Starting from the existing literature it can be confirmed that the introduction of a reference price leads to lower equilibrium prices and induces fiercer competition between firms. Further, it can be shown that reference pricing promotes generic usage and leads to an increased market coverage. Hence, an improved provision of medical supply is achieved due to the lower prices and the stimulated demand for drugs. The paper demonstrates that even under the increased demand consumer and insurance expenditures are reduced. The model isolates the mechanisms of reference pricing and shows the effects on the consumer decisions. Lastly, consumer surplus increases when implementing the regulation. |
| Keywords: | reference pricing,pharmaceutical market,copayment,price cap,price competition,expenditures,consumer surplus |
| JEL: | I11 I18 L51 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:tuewef:115&r=all |
| By: | Colmenares, Gloria; Löschel, Andreas; Madlener, Reinhard |
| Abstract: | In this paper, we review the state-of-the-art and common practice of energy and climate modeling vis-à-vis the rebound literature, in particular regarding how macroeconomic energy and climate models quantify and include energy and greenhouse gas rebound effects. First, we focus on rebound effects in models of costless energy efficiency improvement that hold other attributes constant (zero-cost breakthrough), and an energy efficiency policy that may be bundled with other product changes that affect energy use (policy-induced efficiency improvement) (Gillingham et al. 2015). Second, we examine macroeconomic studies focusing on energy efficiency both in industry and in private households. Third, we go through a general theoretical revision from micro- to macroeconomic levels (the aggregation level) to include a review of the so-called meso-level studies (focused on the analysis of the production side). From 118 recent studies along the aggregation level, out of which 25 compute rebound calculations, we find that the average energy rebound effect is 58% with a standard deviation of 58%, and when we include green house gas rebound calculations, the magnitude is of the order of 43% with a standard deviation of 55%. Finally, we argue that the rebound effect is a phenomenon that requires a sound understanding of the complex interactions from different dimensions (e.g. aggregation level, heterogeneity, climate, energy conservation and economic growth), and we provide some ideas and motivations for future research. |
| Keywords: | Rebound effect,Macroeconomic models,Energy efficiency,Energy policy |
| JEL: | E13 Q41 Q43 Q48 Q54 R13 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:cawmdp:106&r=all |
| By: | Polemis, Michael; Tselekounius, Markos |
| Abstract: | The channel between innovation and industry regulation constitutes a non-lasting debate among the economists and researchers within the recent years. Despite the significant contributions on this field, mostly made from the empirical standpoint, the existing literature is still incomplete. This might be attributed to the fact that existing studies fail to combine a strong theoretical framework with the empirical scrutiny in order to exemplify and decompose the relationship between regulation intensity and innovation activity. We attempt to shed light on this limitation by theoretically modeling the telecommunications sector, in which access regulation impacts the non-separable activity in process and product innovation. We then empirically test our model by deploying an efficient panel threshold technique along the lines of Hansen (1999). Our balanced panel dataset comprises of 32 OECD countries over the period 1995-2012. The empirical results unveil a non-monotonic relationship of an “inverted V-shaped” form between regulation and innovation. We argue that beyond certain thresholds increasing the regulatory stringency further results in decreasing sector innovation. Our findings survive robustness checks after the inclusion of two alternative threshold variables (market structure and entry regulation) incurring significant implications for the policy makers and government officials. |
| Keywords: | Innovation; Regulation; Telecommunications, Market structure; Panel threshold model. |
| JEL: | C24 D43 L51 L80 L96 |
| Date: | 2019–03–15 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:92770&r=all |
| By: | David Popp |
| Abstract: | Encouraging innovation is an important part of environmental policy. A large literature in environmental economics examines the links between environmental policy and innovation. This paper reviews recent literature on green innovation. I highlight major trends in the literature, including an increased number of cross-country studies and a focus on the effect of different policy instruments on innovation. I include a discussion of the justifications and evidence for technology-specific policy incentives and present evidence on the effectiveness of government R&D spending. My review concludes with a discussion of three promising areas for new research on environmental innovation. |
| Keywords: | green innovation, induced innovation, pollution, climate change, renewable energy, energy efficiency, research and development, technology policy |
| JEL: | O31 O38 Q55 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_7544&r=all |
| By: | Benedikt Downar; Jürgen Ernstberger; Hannes Rettenbacher; Sebastian Schwenen; Aleksandar Zaklan |
| Abstract: | We examine how mandatory disclosure of greenhouse gas (GHG) emissions influences companies’ emission levels. We identify the effect of full transparency by exploiting a mandate requiring UK-incorporated listed companies to disclose information on GHG emissions in their annual reports. Comparing the emissions of installations (e.g. power plants, or oil refineries) owned by listed companies and installations owned by firms not subject to the mandate, we document that disclosing GHG emissions in annual reports reduces emission levels by up to 18%. Emission reductions occur across all industries but are largest for installations from the energy supply industry. Our results are robust to various specifications and document the incremental effect of disclosing emission data in annual reports, as firms had to report emission data to a central register already before the disclosure mandate. |
| Keywords: | Disclosure of non-financial information; greenhouse gas emissions; real effects |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwwpp:dp1795&r=all |
| By: | Kube, Roland; von Graevenitz, Kathrine; Löschel, Andreas; Massier, Philipp |
| Abstract: | Voluntary environmental management programs for firms have become an increasingly popular instrument of environmental policy. However, the literature's conclusion on the effectiveness of such programs is ambiguous, and for the European region there is a lack of evidence based on a large control group. We seek to fill this gap with an evaluation of the Eco-Management and Audit Scheme (EMAS), introduced in 1995 by the European Union as a premium certification of continuous pro-environmental efforts above regulatory minimum standards. It is more demanding than other voluntary programs due to annual public reports of the environmental performance and targets for improvements. We use official firm-level production census data on the German manufacturing sector, a major energy consumer and emitter in Europe. To account for the self-selection of firms, we combine the Coarsened Exact Matching approach with a Difference-in-Differences estimation. Our results do not suggest reductions of firms' CO2 intensity and energy intensity neither before nor after certification. Moreover, program participants do not increase renewable energy consumption or investments into the protection of the environment and climate. Our results are robust to a variety of checks and call into question the effectiveness of the EMAS program concerning these particular outcome variables. |
| Keywords: | Voluntary Environmental Programs,Firm-level Energy Behavior,Matching Difference-in-Differences |
| JEL: | Q58 Q54 Q48 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:cawmdp:107&r=all |
| By: | Chakravorty, Ujjayant; Dar, Manzoor; Emerick, Kyle |
| Abstract: | We use two randomized controlled trials in 544 villages of rural Bangladesh to study a simple water conservation technology called "Alternate Wetting and Drying (AWD)". The AWD technology is a perforated PVC pipe that allows farmers to observe the water level below ground and thus irrigate their field less often. Even though this technology has shown promising results in numerous agronomic experiments, we find no significant effects on water use and profits. AWD only leads to measurable water savings in villages where farmers pay a volumetric (marginal) price for water, but not in villages where water prices are set by the acre. Building on these findings, the second RCT randomly distributed debit cards that convert farmers from per-acre charges to hourly billing. The debit cards cause demand for AWD to become less price sensitive and farmers to put more value on the technology. Taken together, these results show that introducing a marginal price for water aligns incentives for conservation. |
| JEL: | O13 Q25 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:13572&r=all |
| By: | Katinka Kristine Holtsmark; Kristoffer Midttømme |
| Abstract: | This paper presents a novel benefit of linking emission permit markets. We let countries issue permits non-cooperatively, and with endogenous technology we show there are gains from permit trade even if countries are identical. Linking the permit markets of different countries will turn permit issuance into intertemporal strategic complements. The intertemporal strategic complementarity arises because issuing fewer permits today increases investments in green energy capacity in all permit market countries, and countries with a higher green energy capacity will respond by issuing fewer permits in the future. Hence, each country faces incentives to withhold emission permits when permit markets are linked. Even though countries cannot commit to reducing their own emissions, or punish other countries that do not, the outcome is reduced emissions, higher investments, and increased welfare, compared to a benchmark with only domestic permit trade. We also show that permit market linking can arise as an equilibrium outcome. |
| Keywords: | international agreements, permit markets, dynamic games, green technology investments |
| JEL: | F55 Q54 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_7548&r=all |
| By: | Bergantino, Angela Stefania; Di Liddo, Giuseppe; Porcelli, Francesco |
| Abstract: | Using a new measure of urban sprawl, we evaluate the impact of urban sprawl on municipal expenditures of Italian municipalities in local public transport, roads and traffic management, and municipal technical offices for the year 2013. Our results suggest that urban sprawl leads to an increase in standard expenditure needs of Italian municipalities for all expenditure categories considered. The relationship between urban sprawl and expenditure is stronger for expenditures in road and traffic management. |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:sit:wpaper:19_4&r=all |
| By: | Amigues, Jean-Pierre; Moreaux, Michel |
| Abstract: | To prevent climate change, three options are currently considered: improve the energy conversion efficiency of primary energy sources, develop carbon free alternatives to polluting fossil fuels and abate potential emissions before they are released inside the atmosphere. We study the optimal mix and timing of these three mitigation options in a stylized dynamic model. Useful energy can come from two sources: a non-renewable fossil fuel resource and a carbon free renewable resource. The conversion efficiency rate of fossil energy into useful energy is open to choice but higher conversion rates are also more costly. The economy can abate some fraction of its potential emissions and a higher abatement rate incurs higher costs. The society objective is to maintain below some mandated level, or carbon cap, the atmospheric carbon concentration. In the empirically relevant case where the economy is actually constrained by the cap, at least temporarily, we show that the optimal path is a sequence of four regimes: a ’pre-ceiling’ regime before the economy is actually constrained by the cap, a ’ceiling’ regime at the cap, a ’post-ceiling’ regime below the cap and a final regime of exclusive exploitation of renewable resources. If the abatement option has ever to be used, it should be started before the beginning of the ceiling regime, first at an increasing rate and at a decreasing rate once the cap constraint binds. The efficiency performance from any source steadily improves with the exception of a time phase under the ceiling regime when it is constant. Renewables take progressively a larger share of the energy mix but their exploitation may be delayed significantly. Absolute levels of carbon emissions drop down continuously but follow a non monotonic pattern in per useful energy unit relative terms.To prevent climate change, three options are currently considered: improve the energy conversion efficiency of primary energy sources, develop carbon free alternatives to polluting fossil fuels and abate potential emissions before they are released inside the atmosphere. We study the optimal mix and timing of these three mitigation options in a stylized dynamic model. Useful energy can come from two sources: a non-renewable fossil fuel resource and a carbon free renewable resource. The conversion efficiency rate of fossil energy into useful energy is open to choice but higher conversion rates are also more costly. The economy can abate some fraction of its potential emissions and a higher abatement rate incurs higher costs. The society objective is to maintain below some mandated level, or carbon cap, the atmospheric carbon concentration. In the empirically relevant case where the economy is actually constrained by the cap, at least temporarily, we show that the optimal path is a sequence of four regimes: a ’pre-ceiling’ regime before the economy is actually constrained by the cap, a ’ceiling’ regime at the cap, a ’post-ceiling’ regime below the cap and a final regime of exclusive exploitation of renewable resources. If the abatement option has ever to be used, it should be started before the beginning of the ceiling regime, first at an increasing rate and at a decreasing rate once the cap constraint binds. The efficiency performance from any source steadily improves with the exception of a time phase under the ceiling regime when it is constant. Renewables take progressively a larger share of the energy mix but their exploitation may be delayed significantly. Absolute levels of carbon emissions drop down continuously but follow a non monotonic pattern in per useful energy unit relative terms. |
| Keywords: | energy efficiency; ; carbon pollution;; non-renewable resources;; renewable resources;; abatement. |
| JEL: | Q00 Q32 Q43 Q54 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:tse:wpaper:122842&r=all |
| By: | Luca Di Corato (Department of Economics, University Of Venice Cà Foscari); Yishay D. Maoz (The Open University of Israel) |
| Abstract: | In markets where production has adverse externalities, policy makers may wish to increase welfare by imposing a cap on market entries. In this paper, we examine the implications that the cap has on the firms’ investment equilibrium policy and on social welfare in the presence of market uncertainty. In contrast with previous literature, we explicitly model the present externality and then let the social planner choose the cap level maximizing welfare. We find that: i) if the consideration of the option value triggers investment at price above the social marginal cost of production, then it is optimal to have no cap at all; ii) otherwise, the cap should be set on the current market quantity and a ban on further market entries should be announced. |
| Keywords: | Investment, Uncertainty, Caps, Competition, Externalities, Welfare |
| JEL: | C61 D41 D62 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:ven:wpaper:2019:07&r=all |
| By: | Quentin Coutellier; Greer Gosnell; Ralf Martin; Mirabelle Muûls; Goran Strbac; Mingyang Sun; Simon Tindermans |
| Abstract: | We report first results from a large scale randomized control trial of different forms of energy consumption feedback facilitated by smart meters and smart phone feedback apps. Nearly 40,000 customers of a large energy retailer in the UK were exposed to either very basic feedback apps - i.e. simply giving consumers access to monthly energy consumption - or more advanced feedback involving peer group comparisons as well as dis-aggregation of total electricity consumption. We find that more advanced feedback can lead to an average consumption reduction of nearly 4% (Intent to Treat). Taking into account that a large number of customers never sign in to any feedback apps suggests that the reduction effect among customers that do sign in is up to 12%. The smart meter installation was implemented by different installation firms across our sample and we find the reduction effect only for one customers of one installer who displays higher capabilities along a number of metrics. This could suggest that achieving energy preservation objectives does not only depend on the technology involved but also on the capabilities and skills of firms installing those technologies. In the UK, smart meters are by default installed with In Home Displays (IHD) that provide real time feedback on energy use. Some of the customers in our sample did not receive an IHD and we explore if this had any impact on the consumption reduction effect described above. Customers with (and without) IHD comprise a self-selected sample so we have to be careful in drawing causal conclusions. However, we do not find any evidence that any energy reducing effect is contingent on IHDs. |
| Keywords: | behavioural intervention, household energy demand, randomised controlled trial, information |
| JEL: | D12 Q48 Q54 |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepdps:dp1602&r=all |