Time is Money: The Social Benefits of Time-of-Use Tariffs
研究强制分时电价政策对电力负荷的影响，发现其带来相当于批发发电成本4.5%的社会效益，主要来自减少资本投资，对政策制定者有参考价值。
In this study, we first estimate the impact of a mandatory time-of-use (TOU) pricing policy on the aggregate electricity load and find evidence for statistically significant load-shifting effects. Next, we develop a data-driven method to examine the impact of the TOU pricing policy on social benefits in the electricity industry, including reductions in fuel costs, greenhouse gas emissions, capital investment in generation capacity, transmission congestion, and ancillary services. Our estimates reveal that the TOU tariffs yielded social benefits equivalent to 4.5 percent of wholesale electricity generation costs. With tariff redesign, this percentage could increase to 7.6 percent. Our analysis suggests that, when formulating TOU tariffs, policymakers should prioritize their impact on capital investment, from which the majority of social benefits (98%) stem.