Modelling household electricity consumption

Abstract

A simulation model of household consumption of electricity is constructed taking account of intra-day climate and electricity price changes. The model is extended to endogenise household decisions concerning the stock and characteristics of appliances based on electricity prices and public policy (price subsidies and energy efficiency standards). Illustrative applications of the model are presented, estimating the effects of various tariff plans, regulatory and policy options, and climate scenarios on household electricity consumption and appliance purchase decisions. The model utilises a novel theoretical technique to estimate a matrix of relati..