Price Responsiveness in Electricity Markets: Implications for Demand Response in the Midwest
实证分析了中大陆独立系统运营商（MISO）电力市场中零售和批发层面的价格响应，发现中西部各州工业用户的价格响应存在差异，且批发市场实时价格弹性在子区域定价枢纽间不同，这些差异与需求响应项目的采用有关。
This paper provides an empirical analysis of price responsiveness in retail and wholesale markets in the Midcontinent ISO electricity markets. In the retail market, consumers do not often observe real-time price changes and pay a predetermined flat rate, but are able to respond to price over longer time periods. In the wholesale electricity market, buyers are able to adjust their electricity purchases based on real-time price changes. Our findings show that retail industrial customers respond differently in different across states in the Midwest. We also find differences in real-time wholesale price elasticities between sub-regional pricing hubs in the MISO footprint. Results suggest that the observed differences in price responsiveness of demand across market levels and sub-regions are associated with demand response program adoption.