Empirical Investigation of the Rural Cooperatives Residential Demand for Electricity

摘要

This study examines the Rural Electric Cooperatives' (RECs') residential demand for electricity using a simultaneous-equation, partial-adjustment model developed as a component of the Oak Ridge National Laboratory Rural Electric Energy Demand (REED) model. The residential sector is described by a pair of equations in which the quantity of electricity demanded and the average electricity price are endogenous. The structural equations are estimated using regionally pooled state-level, REC-specific data for the period 1969 to 1977 for five regions. The results indicate substantial variability among regions in both the short-run and long-run response to changing prices, income and weather conditions. (ERA citation 06:032125)