Major Reforms in Electricity Pricing: Evidence from a Quasi-Experiment

• 成果类型: Article
• 署名作者: Labandeira, Xavier; Labeaga, Jose M.; Teixido, Jordi J.
• 署名单位: Universidade de Vigo; Universidad Nacional de Educacion a Distancia (UNED); University of Barcelona
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1093/ej/ueab076
• 发表日期: 2022
• 页码: 1517-1541
• 关键词: instrumental variables regression; gasoline taxes; generation; EFFICIENCY; SALIENCE; prices; energy; respond

摘要

The global energy mix and cost structure of the power industry are experiencing a redefinition. Many countries are revamping electricity-pricing systems to guarantee fixed-cost recovery, often by raising the fixed charge of two-part tariff schemes. However, a key assumption of two-part tariff schemes and associated fixed-cost recoveries is that consumers discriminate fixed from marginal costs. We conduct a quasi-experiment with data from a major electricity price reform recently implemented in Spain and find robust evidence indicating that consumers fail to distinguish between fixed and marginal costs. As a result, policymakers are not achieving the goal of cost recovery.