iFleks – Future price elasticity in electricity consumption
Challenge and objective
To understand how variable energy prices in the future will affect the electricity consumption in peak load periods when stronger price signals are expected and more technology solutions are available.
Price experiments and questionnaires among 4375 households and some office and public buildings during the winter 2020 and 2021.
Smart meter data are analysed to study the connection between price and demand.
2-11% reduction in electricity consumption in peak price hours based on manual measures. Approx. 50% of the households responded to price signals.
Impact for distribution system innovation
Improved understanding of demand response and the strength needed in price signals to achieve a reduction in peak load sufficient enough to postpone grid investments.