System dynamics model for analysis of demand response on incorporating autoswitch in the Colombian electrical sector

This study investigates the potential outcomes of transforming the Colombian electricity market—70% of which is regulated—into a deregulated market. Given the impact of climate change and the need for greater control over the Colombian retail energy sector, it is crucial to examine future scenarios...

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Bibliographic Details
Published in:Energy policy 2024-10, Vol.193, p.114257, Article 114257
Main Authors: Niño-Zambrano, Miguel-Angel, Cobos-Lozada, Carlos-Alberto, Mendoza-Becerra, Martha-Eliana, Ordóñez-Erazo, Hugo-Armando, García-Sierra, Rodolfo
Format: Article
Language:English
Subjects:
Autoswitch
Demand response
Deregulated electricity market
Energy market
User response
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Summary:This study investigates the potential outcomes of transforming the Colombian electricity market—70% of which is regulated—into a deregulated market. Given the impact of climate change and the need for greater control over the Colombian retail energy sector, it is crucial to examine future scenarios where two policies, successful in other countries, could improve market management. A simulation was conducted using a system dynamics model to analyze residential user behavior by manipulating demand response and implementing an autoswitch policy. The results validate the effectiveness of regulating electricity consumption through price management and the autoswitch policy, where customers can automatically switch suppliers. By 2033, these policies could reduce electricity prices by 11%–14%, depending on weather and user behavior changes, leading to significant customer savings, especially for higher-income groups, while ensuring suppliers' profitability. Although the conclusions suggest a positive outlook, the implementation of these policies requires regulatory changes and the adoption of smart energy meters. he proven policies could help Colombian government in managing consumption during energy crises. •A System Dynamics model for the Colombian electricity market was created.•The model allows us to assess the Demand Response and Autoswitch policies.•Simulation results show an energy tariff reduction between 11% and 14% by 2033.•Insight Maker was used for implementing the model and is available free online.•More than six simulation scenarios can be analyzed in the online model.
ISSN:0301-4215
DOI:10.1016/j.enpol.2024.114257