{"id":"https://openalex.org/W294690399","doi":null,"title":"Electricity pricing that reflects its real-time cost","display_name":"Electricity pricing that reflects its real-time cost","publication_year":2009,"publication_date":"2009-03-22","ids":{"openalex":"https://openalex.org/W294690399","mag":"294690399"},"language":"en","primary_location":{"id":"pmh:oai:econstor.eu:10419/61942","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10419/61942","pdf_url":null,"source":{"id":"https://openalex.org/S4306401696","display_name":"Econstor (Econstor)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"doc-type:article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5002269961","display_name":"Severin Borenstein","orcid":"https://orcid.org/0000-0001-5635-0841","observed_orcids":["https://orcid.org/0000-0001-5635-0841"]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Severin Borenstein","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0001-5635-0841","affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5002269961"],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":2.3198,"has_fulltext":false,"cited_by_count":15,"citation_normalized_percentile":{"value":0.87357464,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"2009","issue":"1","first_page":"9","last_page":"12"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10424","display_name":"Electric Power System Optimization","score":0.6807000041007996,"subfield":{"id":"https://openalex.org/subfields/2208","display_name":"Electrical and Electronic Engineering"},"field":{"id":"https://openalex.org/fields/22","display_name":"Engineering"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},"topics":[{"id":"https://openalex.org/T10424","display_name":"Electric Power System Optimization","score":0.6807000041007996,"subfield":{"id":"https://openalex.org/subfields/2208","display_name":"Electrical and Electronic Engineering"},"field":{"id":"https://openalex.org/fields/22","display_name":"Engineering"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T10603","display_name":"Smart Grid Energy Management","score":0.3091000020503998,"subfield":{"id":"https://openalex.org/subfields/2208","display_name":"Electrical and Electronic Engineering"},"field":{"id":"https://openalex.org/fields/22","display_name":"Engineering"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T12271","display_name":"Renewable energy and sustainable power systems","score":0.0013000000035390258,"subfield":{"id":"https://openalex.org/subfields/2105","display_name":"Renewable Energy, Sustainability and the Environment"},"field":{"id":"https://openalex.org/fields/21","display_name":"Energy"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/real-time-pricing","display_name":"real-time pricing","score":0.9330000281333923},{"id":"https://openalex.org/keywords/time-of-use-pricing","display_name":"time-of-use pricing","score":0.8859999775886536},{"id":"https://openalex.org/keywords/marginal-cost-of-electricity","display_name":"marginal cost of electricity","score":0.8140000104904175},{"id":"https://openalex.org/keywords/peak-shaving","display_name":"peak shaving","score":0.46799999475479126},{"id":"https://openalex.org/keywords/public-utility-regulation","display_name":"utility regulation","score":0.5740000009536743},{"id":"https://openalex.org/keywords/electricity-market-liberalization","display_name":"electricity market liberalization","score":0.5249999761581421},{"id":"https://openalex.org/keywords/wholesale-electricity-market","display_name":"wholesale electricity market","score":0.9300000071525574},{"id":"https://openalex.org/keywords/electricity-storage","display_name":"electricity storage","score":0.3330000042915344},{"id":"https://openalex.org/keywords/demand-side-management","display_name":"demand-side management","score":0.4650000035762787},{"id":"https://openalex.org/keywords/metering-technology","display_name":"metering technology","score":0.49900001287460327},{"id":"https://openalex.org/keywords/cost-recovery","display_name":"cost recovery","score":0.3880000114440918}],"concepts":[{"id":"https://openalex.org/C206658404","wikidata":"https://www.wikidata.org/wiki/Q12725","display_name":"Electricity","level":2,"score":0.6778412461280823},{"id":"https://openalex.org/C2779280359","wikidata":"https://www.wikidata.org/wiki/Q870344","display_name":"Electricity pricing","level":4,"score":0.5968180298805237},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5898624062538147},{"id":"https://openalex.org/C45237549","wikidata":"https://www.wikidata.org/wiki/Q1376796","display_name":"Restructuring","level":2,"score":0.5401249527931213},{"id":"https://openalex.org/C57101690","wikidata":"https://www.wikidata.org/wiki/Q2356921","display_name":"Electricity retailing","level":4,"score":0.5295314192771912},{"id":"https://openalex.org/C66887028","wikidata":"https://www.wikidata.org/wiki/Q382444","display_name":"Marginal cost","level":2,"score":0.5199243426322937},{"id":"https://openalex.org/C2781198434","wikidata":"https://www.wikidata.org/wiki/Q4064479","display_name":"Amortization","level":3,"score":0.5128055214881897},{"id":"https://openalex.org/C30772137","wikidata":"https://www.wikidata.org/wiki/Q5164762","display_name":"Consumption (sociology)","level":2,"score":0.4742278754711151},{"id":"https://openalex.org/C157062255","wikidata":"https://www.wikidata.org/wiki/Q5035697","display_name":"Capital cost","level":2,"score":0.41024765372276306},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.408125638961792},{"id":"https://openalex.org/C146733006","wikidata":"https://www.wikidata.org/wiki/Q676081","display_name":"Electricity market","level":3,"score":0.40297454595565796},{"id":"https://openalex.org/C54750564","wikidata":"https://www.wikidata.org/wiki/Q26643","display_name":"Commerce","level":1,"score":0.3713790774345398},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.35209494829177856},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.16777744889259338},{"id":"https://openalex.org/C2777764128","wikidata":"https://www.wikidata.org/wiki/Q189539","display_name":"Loan","level":2,"score":0.1432827115058899},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.11136126518249512},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.09930169582366943},{"id":"https://openalex.org/C144024400","wikidata":"https://www.wikidata.org/wiki/Q21201","display_name":"Sociology","level":0,"score":0.0},{"id":"https://openalex.org/C36289849","wikidata":"https://www.wikidata.org/wiki/Q34749","display_name":"Social science","level":1,"score":0.0},{"id":"https://openalex.org/C119599485","wikidata":"https://www.wikidata.org/wiki/Q43035","display_name":"Electrical engineering","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"pmh:oai:econstor.eu:10419/61942","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10419/61942","pdf_url":null,"source":{"id":"https://openalex.org/S4306401696","display_name":"Econstor (Econstor)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"doc-type:article"},{"id":"mag:294690399","doi":null,"is_oa":false,"landing_page_url":"https://www.econstor.eu/bitstream/10419/61942/1/688169767.pdf","pdf_url":null,"source":{"id":"https://openalex.org/S4306520639","display_name":"NBER Reporter","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":"NBER Reporter Online","raw_type":null}],"best_oa_location":null,"sustainable_development_goals":[{"display_name":"Affordable and clean energy","id":"https://metadata.un.org/sdg/7","score":0.8485000133514404}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W2296811153","https://openalex.org/W7100797770","https://openalex.org/W7095661826","https://openalex.org/W2303136666","https://openalex.org/W1587740523","https://openalex.org/W2909908159","https://openalex.org/W7098609159","https://openalex.org/W7097194708","https://openalex.org/W2064444091","https://openalex.org/W2598902357"],"abstract_inverted_index":{"Long":[0],"before":[1],"U.S.":[2],"electricity":[3,19,43,56,416,422,441],"restructuring":[4],"began":[5,370],"in":[6,149,255,345,381,403,426,433,486,510,568,624,626],"the":[7,14,28,37,67,82,86,89,113,167,201,217,246,251,261,278,285,328,331,360,430,434,477,501,513,531,538,584,610,614,629],"1990s":[8],"there":[9],"was":[10,78,178,355,418,439,587,612,622],"a":[11,92,117,127,162,188,287,367,379,387,393,445,457,517,590],"recognition":[12],"that":[13,36,54,103,207,290,305,389,440,470,499,530,613],"marginal":[15,313,339,478,519],"cost":[16,30,40,168,230,479,520],"of":[17,31,41,85,108,112,166,169,197,213,220,245,249,330,413,429,480,484,516,521,549,628],"producing":[18,481],"could":[20,443],"change":[21,155],"significantly":[22],"hour":[23],"to":[24,69,74,95,156,242,270,283,297,337,347,371,452,474,490,503,525,534,563,619],"hour.":[25],"Combined":[26],"with":[27,98,116,140,300,319,373,448,570],"high":[29,543,550,557],"storing":[32],"electricity,":[33],"this":[34,171,343,382,466,528],"meant":[35,94,529],"true":[38,591],"opportunity":[39],"consuming":[42],"also":[44],"would":[45,545,559,576],"vary":[46],"constantly.":[47],"For":[48],"many":[49,427,449],"decades":[50],"economists":[51],"have":[52],"argued":[53],"retail":[55],"prices":[57,77,102,136,206,471,544,558,578],"should":[58],"fluctuate":[59],"accordingly--this":[60],"is":[61,227,295,303,384],"known":[62],"as":[63],"real-time":[64],"pricing":[65,144,173,288],"(RTP)--but":[66],"technology":[68,365,615],"meter":[70],"hourly":[71],"consumption":[72,361],"and":[73,110,126,152,174,184,259,377,391,555,616],"communicate":[75],"fluctuating":[76],"quite":[79],"costly.":[80],"In":[81,187,315,512],"last":[83],"half":[84],"twentieth":[87],"century,":[88],"industry":[90,447],"created":[91],"system":[326],"approximate":[96],"RTP":[97,401,621],"standard":[99],"technology:":[100],"time-of-use":[101],"varied":[104],"systematically":[105],"by":[106,589,599],"time":[107,611],"day":[109,111],"week,":[114],"usually":[115],"higher":[118],"price":[119,129],"Monday":[120],"through":[121],"Friday":[122],"during":[123],"business":[124],"hours":[125],"lower":[128],"at":[130,229,508,547,609],"all":[131],"other":[132],"times.":[133],"The":[134,353,375,437,461],"two":[135,191],"(or":[137],"sometimes":[138,535],"three,":[139],"an":[141,225,595],"added":[142],"shoulder":[143],"period)":[145],"were":[146,323,424,567],"set":[147],"months":[148],"advance,":[150],"however,":[151,468],"did":[153,307],"not":[154,232,304,308,357,623],"reflect":[157],"demand/supply":[159],"balance":[160],"on":[537],"daily":[163],"basis.":[164],"Because":[165],"even":[170],"simple":[172,514],"metering":[175,364],"scheme,":[176],"it":[177,253],"used":[179,358],"only":[180],"for":[181,263,405,465,488],"large":[182,406],"commercial":[183],"industrial":[185,407],"customers.":[186,408],"regulatory":[189],"environment,":[190],"additional":[192],"factors":[193],"worked":[194],"against":[195],"adoption":[196],"RTP.":[198,374,420],"Under":[199],"regulation,":[200],"utility":[202,279],"nearly":[203,411],"always":[204],"charges":[205],"are":[208],"based":[209],"some":[211,600],"notion":[212],"average":[214],"cost,":[215,507],"including":[216],"accounting":[218],"amortization":[219],"long-term":[221],"capital":[222,264,293,506],"expenditures.":[223],"Such":[224,573],"approach":[226],"targeted":[228],"recovery,":[231],"efficient":[233],"pricing.":[234],"Also,":[235],"regulated":[236,395],"utilities":[237,269,306,369],"may":[238],"be":[239,298,444],"less":[240],"likely":[241],"appreciate":[243],"one":[244],"main":[247],"attractions":[248],"RTP,":[250],"effect":[252],"has":[254],"shaving":[256],"demand":[257,417,539,551,575],"peaks":[258],"reducing":[260],"need":[262],"investment.":[265],"If":[266],"regulators":[267],"allow":[268],"earn":[271,491],"generous":[272],"returns":[273],"investment,":[275],"or":[276,310,552,594],"if":[277],"management":[280],"simply":[281],"wants":[282],"grow":[284],"company,":[286],"strategy":[289],"constrains":[291],"new":[292],"investment":[294],"unlikely":[296],"popular":[299],"managers.":[301],"It":[302],"understand":[309],"calculate":[311],"their":[312,454],"cost.":[314,340],"fact,":[316],"engineers":[317],"tasked":[318],"minimizing":[320],"production":[321,332,351],"costs":[322],"constantly":[324],"calculating":[325],"lambda":[327],"value":[329],"constraint,":[333],"which":[334],"corresponds":[335],"directly":[336],"economic":[338,463],"They":[341],"needed":[342],"information":[344,354],"order":[346,487],"choose":[348],"among":[349],"different":[350],"resources.":[352],"just":[356],"side.":[540],"As":[363],"improved,":[366],"few":[368],"experiment":[372],"pioneer":[376],"still":[378],"leader":[380],"regard":[383],"Georgia":[385],"Power,":[386],"company":[388],"was,":[390],"remains,":[392],"traditional":[394],"utility.":[396],"GP":[397],"introduced":[398],"its":[399,414,505,526],"first":[400],"program":[402],"1991":[404],"By":[409],"2000,":[410],"one-third":[412],"entire":[415],"Wholesale":[421],"markets":[423,630],"deregulated":[425],"parts":[428],"United":[431],"States":[432],"late":[435],"1990s.":[436],"idea":[438],"generation":[442],"competitive":[446],"generators":[450],"vying":[451],"sell":[453],"output":[455,485],"into":[456],"common":[458],"power":[459],"market.":[460],"underlying":[462],"model":[464],"market,":[467],"required":[469],"occasionally":[472],"rise":[473],"well":[475],"above":[476],"most":[482],"units":[483],"firms":[489,601],"operating":[492,497],"profits":[493,498],"infra-marginal":[495],"units,":[496],"allowed":[500],"firm":[502],"cover":[504],"least":[509],"expectation.":[511],"framework":[515],"constant":[518],"each":[522],"generator":[523],"up":[524],"capacity,":[527],"market":[532,586,603,617],"had":[533],"clear":[536],"That":[541],"is,":[542],"occur":[546],"times":[548],"reduced":[553],"supply,":[554],"those":[556],"cause":[560],"quantities":[561],"demanded":[562],"decline":[564],"until":[565],"they":[566],"line":[569],"capacity.":[572],"price-responsive":[574],"constrain":[577],"from":[579],"jumping":[580],"too":[581],"high,":[582],"whether":[583],"tight":[585],"caused":[588,598],"supply":[592],"shortage":[593,597],"artificial":[596],"exercising":[602],"power.":[604],"What":[605],"went":[606],"largely":[607],"unnoticed":[608],"organization":[618],"enable":[620],"place":[625],"any":[627],"headed":[631],"towards":[632],"deregulation.":[633],"\u2026":[634]},"counts_by_year":[{"year":2020,"cited_by_count":2},{"year":2018,"cited_by_count":1},{"year":2016,"cited_by_count":2},{"year":2015,"cited_by_count":1},{"year":2012,"cited_by_count":5}],"updated_date":"2026-10-31T12:09:11.096373","created_date":"2016-06-24T00:00:00"}
