Simulation of current pricing-tendencies in the German electricity market for private consumption
The German electricity market for private consumption is characterized by increasing prices and low participation of the consumers. This prompts us to investigate the interdependencies between the customers’ engagement in the market and the suppliers’ pricing strategies. Based on an analysis of the...
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| Veröffentlicht in: | Energy policy 2007-08, Vol.35 (8), p.4283-4294 |
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| container_title | Energy policy |
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| creator | Müller, Moritz Sensfuß, Frank Wietschel, Martin |
| description | The German electricity market for private consumption is characterized by increasing prices and low participation of the consumers. This prompts us to investigate the interdependencies between the customers’ engagement in the market and the suppliers’ pricing strategies. Based on an analysis of the German retail market, an agent-based simulation model is developed. Whereas the behaviour of private customers is calibrated on field data, the suppliers learn to maximize profits with a feedback-learning heuristic. The simulation results show a tendency of rising prices, which are created without the assumption of tacit collusion among suppliers. We conclude that in Germany the current market pressure of private customers may not be a sufficient incentive for suppliers to lower electricity prices. |
| doi_str_mv | 10.1016/j.enpol.2007.02.032 |
| format | Article |
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This prompts us to investigate the interdependencies between the customers’ engagement in the market and the suppliers’ pricing strategies. Based on an analysis of the German retail market, an agent-based simulation model is developed. Whereas the behaviour of private customers is calibrated on field data, the suppliers learn to maximize profits with a feedback-learning heuristic. The simulation results show a tendency of rising prices, which are created without the assumption of tacit collusion among suppliers. 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This prompts us to investigate the interdependencies between the customers’ engagement in the market and the suppliers’ pricing strategies. Based on an analysis of the German retail market, an agent-based simulation model is developed. Whereas the behaviour of private customers is calibrated on field data, the suppliers learn to maximize profits with a feedback-learning heuristic. The simulation results show a tendency of rising prices, which are created without the assumption of tacit collusion among suppliers. We conclude that in Germany the current market pressure of private customers may not be a sufficient incentive for suppliers to lower electricity prices.</description><subject>Agent-based simulation</subject><subject>Applied sciences</subject><subject>Consumption</subject><subject>Economic behaviour</subject><subject>Economic data</subject><subject>Economics and Finance</subject><subject>Electric energy</subject><subject>Electricity</subject><subject>Electricity market</subject><subject>Energy</subject><subject>Energy consumption</subject><subject>Energy economics</subject><subject>Energy industry</subject><subject>Energy market</subject><subject>Exact sciences and technology</subject><subject>General, economic and professional studies</subject><subject>Germany</subject><subject>Heuristic</subject><subject>Humanities and Social Sciences</subject><subject>Liberalization</subject><subject>Methodology. 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| ispartof | Energy policy, 2007-08, Vol.35 (8), p.4283-4294 |
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| source | RePEc; PAIS Index; Elsevier ScienceDirect Journals |
| subjects | Agent-based simulation Applied sciences Consumption Economic behaviour Economic data Economics and Finance Electric energy Electricity Electricity market Energy Energy consumption Energy economics Energy industry Energy market Exact sciences and technology General, economic and professional studies Germany Heuristic Humanities and Social Sciences Liberalization Methodology. Modelling Price level Prices Pricing Simulation Studies |
| title | Simulation of current pricing-tendencies in the German electricity market for private consumption |
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