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Development of Active Consumer Concept on Energy Market

Author

Listed:
  • Irina A. Firsova

    (Department of Corporate Finance and Corporate Governance, Financial University under the Government of the Russian Federation, Moscow, Russia,)

  • Dinara G. Vasbieva

    (Department of Foreign Languages, Financial University under the Government of the Russian Federation, Moscow, Russia,)

  • Andrey V. Losyakov

    (Department of State Legal and Criminal Law Disciplines, Plekhanov Russian University of Economics, Moscow, Russia)

  • Viktoriia S. Arhipova

    (Department of Municipal Law, Peoples Friendship University of Russia (RUDN University), Moscow, Russia)

  • Andrey A. Pavlushin

    (Department Agro Technologies, Machines and Life Safety, Ulyanovsk State Agrarian University named after P.A. Stolypin, Ulyanovsk, Russia.)

Abstract

The paper investigates a new approach to interaction of all participants on the energy market. An active consumer, as a participant of the energy market, has technical capabilities for optimization of their energy consumption, and determines whether "to produce" or "to buy" electrical energy on the market by themselves. The active consumer s profile reflects their ability to optimize the electrical energy consumption schedule to improve the economic efficiency of consumption and reduce the cost of the electrical energy consumed. In the concept proposed in this paper, the active consumer is considered as a partner of the energy market entities. This brings about a change in the market regulators and participants behavior and their transition from the concept of cost management to the concept of interaction with consumers, involving them in the value chain. A significant difference in the cost of electrical energy for domestic and foreign industrial companies, due to the development of new technologies in the energy sector, leads to a change in the participants behavior. Within the framework of the active consumer concept, we propose a process model for the participants' behavior in the energy market, which presents the economic benefits to all participants during a particular period of time.

Suggested Citation

  • Irina A. Firsova & Dinara G. Vasbieva & Andrey V. Losyakov & Viktoriia S. Arhipova & Andrey A. Pavlushin, 2018. "Development of Active Consumer Concept on Energy Market," International Journal of Energy Economics and Policy, Econjournals, vol. 8(3), pages 8-13.
  • Handle: RePEc:eco:journ2:2018-03-2
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    References listed on IDEAS

    as
    1. Faria, P. & Vale, Z., 2011. "Demand response in electrical energy supply: An optimal real time pricing approach," Energy, Elsevier, vol. 36(8), pages 5374-5384.
    2. Lujano-Rojas, Juan M. & Monteiro, Cláudio & Dufo-López, Rodolfo & Bernal-Agustín, José L., 2012. "Optimum residential load management strategy for real time pricing (RTP) demand response programs," Energy Policy, Elsevier, vol. 45(C), pages 671-679.
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    Citations

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    Cited by:

    1. Olga V. Borisova & Olga A. Kalugina & Nikolay N. Kosarenko & Aleksandr V. Grinenko & Izida I. Ishmuradova, 2019. "Assessing the Financial Stability of Electric Power Organizations," International Journal of Energy Economics and Policy, Econjournals, vol. 9(3), pages 66-76.
    2. Irina Firsova & Dinara Vasbieva & Alexey I. Prokopyev & Evgeniy S. Zykin & Valentin V. Matvienko, 2018. "Development of Consumers' Behavior Business Model on Energy Market," International Journal of Energy Economics and Policy, Econjournals, vol. 8(4), pages 227-233.
    3. Irina A. Firsova & Dinara G. Vasbieva & Aleksandr V. Litvinov & Oxana E. Chernova & Irina V. Telezhko, 2019. "Trends in the Development of the Global Energy Market," International Journal of Energy Economics and Policy, Econjournals, vol. 9(3), pages 59-65.

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    More about this item

    Keywords

    Active Consumer; Energy Market; Demand-Side Management; Economic Benefits.;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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