Moira Nicolson|Gesche Huebner|David Shipworth
Are consumers willing to switch to smart time of use electricity tariffs? The importance of loss-aversion and electric vehicle ownership
Energy Institute|University College London|Energy Institute|University College London|Energy Institute|University College London
smart time use tariffs key part governments strategies ensure future electricity supply clean affordable secure consumers willing switch paper presents results survey experiment conducted nationally representative sample 2020 british energy bill payers data suggests third bill payers favour switching 3tiered smart time use tariff indicating sizeable potential market tariffs substantial variation willingness switch driven differences lossaversion ownership demand flexible appliances rather standard socioeconomicdemographic factors first time lossaversion measured amongst energy bill payers results suggest lossaversion likely stifle consumer uptake 93 bill payers lossaverse care avoiding financial losses making savings lossaverse people substantially less willing switch time use tariff p 0001 randomised control trial finds lossframed messages unlikely overcome lossaversion boost uptake marketing campaigns tailored towards electric vehicle owners significantly willing switch could increase uptake smart meter rollout