Understanding Electricity Demand: Behavioural Aspects and Policy InterventionsBooked Out
Business and Economics
111 Barry Street, Carlton
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Curbing greenhouse gas emissions to fight climate change is imperative and one can think of two way to do that. First, a decrease in electricity consumption would lessen the need to burn fossil fuels. Second, a change in electricity generation technologies using renewable energy sources would also decrease emissions. For both strategies to be successful, household electricity demand must decrease and/or become more flexible.
However, the determinants of this demand, and their effect, are not easy to understand. Electricity is a very peculiar good such that many behavioral frictions affect the households' consumption choice. Households usually lack information concerning the production technology of energy services, compounded by the billing structure of electricity.
In this lecture, Dr Joerg Lingens will discuss the likely effects of behavioral issues on electricity demand, and possible policy options that could nudge households to lower electricity usage.
Dr David Byrne, the University of Melbourne, will chair the seminar with panelists from the Grattan Institute.