PROJECTS
1) Social and Distributional Impacts of Restructured Retail Electricity Markets
Have you ever wondered why some people are paying a substantially higher price for their electricity than others? Basic arguments of economic efficiency suggest that in an efficient market, competition should drive prices toward consistent, competitive and fair prices. This is a study that evaluates residential consumer impacts of Ohio’s retail electricity markets in both Ohio and Pennsylvania. It evaluates differences in observed rates by differing types of customers across various social and economic strata.
2) Economic Markups on Renewables: A Study of the Profit Margin on Renewable Retail Electric Offers
Some energy retailers sell electricity supply contracts containing some portion of supply from renewable sources. How are those prices formed and what is the profit margin on renewable offers? This study investigates how retailers markup renewable offers and quantifies the profit margin observed by suppliers.
3) Price Formation in Retail Electricity Markets
How are retail electricity prices formed in restructured retail electricity markets? This is a study that investigates the economic drivers of retail electricity prices with an explicit focus on the role of competition and market uncertainty. The study investigates how auction dynamics in electricity procurement markets influence retail prices, and it evaluates how competitive retail electric suppliers use those procurement auctions as a price signal to set their own supply offers.
4) A Conjoint Study of Retail Electricity Supply Contract Component Revealed Preferences
When consumers shop for retail electricity supply offers, what attributes are most important to them? We conduct an experimental conjoint analysis to investigate the hidden attributes of retail electricity supply offers that drive consumer preferences beyond price alone.
5) Consumer Preferences in Retail Electricity Markets
How do residential electricity consumers feel about energy suppliers? We conduct a sentiment analysis using machine learning techniques to investigate supply component attributes that drive customer utility and disutility. The study focuses on evaluating differences between what customers say they want, versus what they are actually receiving.
6) Consumer Equity in Municipal Electric Aggregation
Some restructured retail electricity jurisdictions allow municipalities or other subnational units of government to aggregate default electricity supply through voter-enabled referenda. These municipalities often contract with one of a handful of retail suppliers in an oligopolistic market. Are the prices they receive in these contracts competitive? And why do we see significant differences in contracted rates between and across jurisdictions from the same supplier? This study provides a statistical analysis of retail price differences in municipal aggregation rates with an explicit focus on social and equity drivers of rate disparities.