By integrating a communications system with the existing power grid, smart grids provide end-to-end connectivity. This enables all entities and components integrated in the electricity supply system to exchange information without knowing the network's structure. New services and applications...

In this paper, we present the results from a field study on smart metering in Germany and Austria, focusing on the effects of providing feedback information on average electricity consumption. Econometric analyses are applied using a cross section of observations for more than 2000 households...

We examine welfare effects of real-time pricing in electricity markets. Before stochastic energy demand is known, competitive retailers contract with final consumers who exogenously do not have real-time meters. After demand is realized, two electricity generators compete in a uniform price...