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Author: Ricardo Keston Michael Charles Publisher: ISBN: Category : Languages : en Pages : 92
Book Description
A misalignment of incentives in the gas pipeline construction process has caused growth of gasfired generation to outpace investment in new pipelines in New England. Limited gas capacity to the region has resulted in power reliability issues, particularly during severe winter weather when gas demand is high. The majority of proposed solutions have focused on increasing gas supply. However, demand response in the natural gas retail market is a potential alternative answer. To quantify the benefits of gas demand response regional and state level price elasticities of demand for natural gas must be known. In this thesis, the price elasticity of demand for natural gas in the U.S. was estimated for the period 2001 to 2014 at the national, regional and state levels for the residential, commercial and industrial sectors. Differences in demand estimates were observed when performed at the different aggregate data levels and sectors. However, not all the regional and state estimates obtained for each sector showed statistically significant differences from each other or the national level. The short-run regional estimates for New England were used in a simple demonstration of gas demand response to show how they could have been used to mitigate the effects of the 2014 cold snap on electricity generation. Prices were optimized such that they reduced gas demand from retail markets by the amount of fuel that generators were short while minimizing the total deadweight loss.
Author: Ricardo Keston Michael Charles Publisher: ISBN: Category : Languages : en Pages : 92
Book Description
A misalignment of incentives in the gas pipeline construction process has caused growth of gasfired generation to outpace investment in new pipelines in New England. Limited gas capacity to the region has resulted in power reliability issues, particularly during severe winter weather when gas demand is high. The majority of proposed solutions have focused on increasing gas supply. However, demand response in the natural gas retail market is a potential alternative answer. To quantify the benefits of gas demand response regional and state level price elasticities of demand for natural gas must be known. In this thesis, the price elasticity of demand for natural gas in the U.S. was estimated for the period 2001 to 2014 at the national, regional and state levels for the residential, commercial and industrial sectors. Differences in demand estimates were observed when performed at the different aggregate data levels and sectors. However, not all the regional and state estimates obtained for each sector showed statistically significant differences from each other or the national level. The short-run regional estimates for New England were used in a simple demonstration of gas demand response to show how they could have been used to mitigate the effects of the 2014 cold snap on electricity generation. Prices were optimized such that they reduced gas demand from retail markets by the amount of fuel that generators were short while minimizing the total deadweight loss.
Author: Frederick Joutz Publisher: ISBN: Category : Languages : en Pages : 36
Book Description
Demand for natural gas use per residential customer has been declining since the 1980's. Between 1980 and 2001, weather adjusted natural gas use per consumer in the US declined almost 1 percent on an annual basis. Since 2000 the decline for winter only use has accelerated, decreasing 13.1 percent between 2000 and 2006 for the companies analyzed in this paper. To help Local Distribution Companies and Public Service Commissions predict future declines in use per customer natural gas demand, we estimate the price elasticity of natural gas demand by residential households using a sample of data that covers the recent period of large natural gas price increases. We find that the price elasticity of residential natural gas demand has been constant since the 1990s. We also estimate a 1% decline in use per customer induced by the natural turnover of old equipment that is independent of natural gas price increases.
Author: Michael James Brannan Publisher: ISBN: Category : Fuel Languages : en Pages : 61
Book Description
Abstract: Estimating the consumer demand response to changes in the price of gasoline has important implications regarding fuel tax policies and environmental concerns. There are reasons to believe that the short-run price elasticity of gasoline demand fluctuates due to changing structural and behavioral factors. In this paper I estimate the short-run price elasticity of gasoline demand in two time periods, from 2001 to 2006 and from 2007 to 2010. This study utilizes data at both the national and state levels to produce estimates. The short-run price elasticities range from -0.034 to -0.047 during 2001 to 2006, compared to -0.058 to -0.077 in the 2007 to 2010 period. This paper also examines whether there are regional differences in the short-run price elasticity of gasoline demand in the United States. However, there appears to only be modest variation in price elasticity values across regions.
Author: Paul J. Burke Publisher: ISBN: Category : Languages : en Pages : 29
Book Description
Natural gas contributes a growing share of the world's energy mix. In this paper we use national-level data for a sample of 44 countries to estimate the price and income elasticities of natural gas demand. We present both single-equation results and results instrumenting natural gas prices with proved natural gas reserves. Our instrument includes both domestic reserves and distance-weighted reserves in other countries. We obtain estimates of the average long-run price elasticity of natural gas demand of around -1.25 and of the average long-run income elasticity of natural gas demand of 1 and higher. We also present separate estimates for final natural gas demand by industry and households.
Author: Lucas W. Davis Publisher: ISBN: Category : Direct costing Languages : en Pages : 31
Book Description
This paper measures the extent to which prices exceed marginal costs in the U.S. natural gas distribution market during the period 1991-2007. We find large departures from marginal cost pricing in all 50 states, with residential and commercial customers facing average markups of over 40%. Based on conservative estimates of the price elasticity of demand these distortions impose hundreds of millions of dollars of annual welfare loss. Moreover, current price schedules are an important pre-existing distortion which should be taken into account when evaluating carbon taxes and other policies aimed at addressing external costs.
Author: Publisher: ISBN: Category : Electric power consumption Languages : en Pages : 264
Book Description
Presents energy price and expenditure estimates for the 50 States, the District of Columbia, and the United States for 1970, 1975, 1980 and 1985 through 1999. The estimates are presented by energy source (e.g., petroleum, natural gas, coal and electricity) and by major consuming sector.
Author: Ricardo Keston Michael Charles
Author: Ricardo Keston Michael Charles
Author: Frederick Joutz
Author: Pietro Balestra
Author: United States. Department of the Interior. Office of Economic Analysis
Author: Michael James Brannan
Author: Paul J. Burke
Author: 
Author: 
Author: Lucas W. Davis
Author: