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| Author: | Peters, L. L. Seiden, K. P. |
| Title: | The behaviour of publicly owned utilities in wholesale electricity markets: the case of the Pacific Morthwest |
| Journal: | Energy Economics
1987 : OCT, VOL. 9:4, p.241-250 |
| Index terms: | ELECTRICITY INDUSTRY DEMAND FUNCTIONS COSTS REGRESSION ANALYSIS |
| Language: | eng |
| Abstract: | Seemingly unrelated regression techniques are used to estimate wholesale demand functions for three public utilities purchasing power from a federal agency between 1981 and 1983. From hourly data, three separate goods are defined: intrapeak maximum demand, peak period energy consumption and off-peak energy consumption. Explanatory variables include normalized peak period price, retail load served by the utilities, hydroelectric energy potential and opportunity cost of own resources. These utilities are shown to respond quickly and predictably to changes in the relative cost of purchased power, and to act in manners consistent with cost-minimalization. |
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