Homeowners’ preferences for electricity contracts and demand response
Tuorila, Mikael (2019-08-22)
Tuorila, Mikael
M. Tuorila
22.08.2019
© 2019 Mikael Tuorila. Tämä Kohde on tekijänoikeuden ja/tai lähioikeuksien suojaama. Voit käyttää Kohdetta käyttöösi sovellettavan tekijänoikeutta ja lähioikeuksia koskevan lainsäädännön sallimilla tavoilla. Muunlaista käyttöä varten tarvitset oikeudenhaltijoiden luvan.
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:oulu-201908232811
https://urn.fi/URN:NBN:fi:oulu-201908232811
Tiivistelmä
Despite the importance of electricity in the lives of 21st century people, the details of electricity contracts and the market system are relatively overlooked matters in people’s daily lives. The aim of this master’s thesis is to study Finnish homeowners’ knowledge about the electricity markets and their preferences for dynamic-priced electricity contracts and demand response. We study these topics by conducting three binary logit regressions based on a sample data that consists of 380 respondents. The data is from a survey that was originally conducted in October 2016. Choosing electricity contract is a discrete choice for a household. Therefore, the empirical part of this thesis was done with discrete regression model.
Based on our findings we argue that raising awareness of individual and more importantly societal advantages is the key to achieve better demand side management of power markets. People who express general interest in electricity issues and their consumption behaviour are more likely to accept demand response contracts. Overall, we argue that people should be more informed about electricity matters. Knowledge about the impacts of one’s decisions seem to be good catalyst for people to re-evaluate their choices. Moreover, we suggest that the results of this thesis emphasize the fact that monetary incentives in electricity contracts are not the only value creating element for the household. The results indicate that invoking on environmental aspects of these concepts will improve the overall acceptance of demand side management substantially.
Based on our findings we argue that raising awareness of individual and more importantly societal advantages is the key to achieve better demand side management of power markets. People who express general interest in electricity issues and their consumption behaviour are more likely to accept demand response contracts. Overall, we argue that people should be more informed about electricity matters. Knowledge about the impacts of one’s decisions seem to be good catalyst for people to re-evaluate their choices. Moreover, we suggest that the results of this thesis emphasize the fact that monetary incentives in electricity contracts are not the only value creating element for the household. The results indicate that invoking on environmental aspects of these concepts will improve the overall acceptance of demand side management substantially.
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