Socioeconomic Factors
The Full Cost of Electricity study seeks to quantify the costs associated with different generation technologies, and how those costs interact with the cost of electric delivery, consumption, and to determine the total direct and indirect costs of electricity.
The electricity system resides within a broader macroeconomy of the world and nation, as well as consumers as citizens. Thus, there are many socioeconomic factors that can affect the Full Cost of Electricity. Rich households consume more electricity than poor households. Not only can corporations and regulated utilities own and control parts of the electricity system, it is becoming increasingly possible for individual citizens and communities to do the same. In addition, there is an array of stakeholders that seek influence at different levels of government to affect policies, such as regulations, taxes and subsidies, that in turn affect the perception of the Full Cost of Electricity.
Related Energy Institute Publications
Capacity Expansion and Dispatch Modeling: Model Documentation and Results for ERCOT Scenarios
EPA’s Valuation of Environmental Externalities from Electricity Production
Future Utility Business Models
The History and Evolution of the U.S. Electricity Industry
Household Energy Costs for Texans
Integrating Community Values into the Full Cost of Electricity
Market-calibrated Forecasts for Natural Gas Prices
