Consumer Willingness-To-Pay for a Resilient Electrical Grid

Authors

Warigia M. Bowman, University of Tulsa College of Law
Dayton M. Lambert, Oklahoma State University
Joseph T. Ripberger, University of Oklahoma Norman Campus
Hank Jenkins-Smith, University of Oklahoma Norman Campus
Carol L. Silva, University of Oklahoma Norman Campus
Michael A. Long, Oklahoma State University
Kuhika Gupta, University of Oklahoma Norman Campus
Andrew Fox, University of Oklahoma Norman Campus

Document Type

Article

Publication Date

2024

Publisher

Energy Economics

Abstract

The research objective is to estimate consumer willingness to pay (WTP) for electricity grid fortification. Data are from a representative survey of Oklahoma citizens. Extreme weather events, aging utility infrastructure, increased demand for affordable energy, and terrorism threaten the safety and security of the way most citizens access electricity. This study is a first look at public willingness to support energy grid security measures in the United States Southern Great Plains. Findings suggest that consumers would pay an additional $14.69 in monthly utility bills for a fortified grid. This WTP estimate is close to a recent energy bill hike of $14 initiated by local electricity providers. The findings provide policymakers and energy providers with information on consumer willingness to support efforts to modernize the current grid.

Comments

Copyright © 2024 Elsevier B.V.

https://doi.org/10.1016/j.eneco.2024.107345

Recommended Citation

Dayton M. Lambert, Joseph T. Ripberger, Hank Jenkins-Smith, Carol L. Silva, Warigia Bowman, Michael A. Long, Kuhika Gupta, Andrew Fox, Consumer willingness-to-pay for a resilient electrical grid, 131 ENERGY ECONOMICS 107345 (2024).