Topic:"Energy Usage Patterns" in M12350

pectively (Dahl, 1986; Dahl and Sterner, 1991). 4 The estimates of the price elasticity of demand for electricity are comparable to those for gasoline, though possibly slightly higher in the long run. Table 1 is less clear as· to whether t...

AI summary The text discusses price elasticity of electricity demand, noting that residential consumers are more sensitive to price changes in the short run, while commercial users may be more sensitive in the long run. Staff estimates from an energy demand forecasting model show elasticities below -.3, likely representing short-run values. California consumers may be less sensitive compared to the general U.S. population.

pectively (Dahl, 1986; Dahl and Sterner, 1991). 4 The estimates of the price elasticity of demand for electricity are comparable to those for gasoline, though possibly slightly higher in the long run. Table 1 is less clear as· to whether t...

AI summary The text discusses the price elasticity of electricity demand, comparing residential, commercial, and industrial users. It notes that residential consumers are more sensitive to price changes in the short run, while commercial users may be more sensitive in the long run. Staff estimates from the energy demand forecasting model show elasticities below -.3, likely representing short-run effects.