Author's headline finding is that consumers respond to AVERAGE price, and states the most policy-relevant elasticity is the medium-long run average-price elasticity that includes lagged responses. SR average-price -0.051 (Table 2 col2) and the largest medium-long-run average-price -0.088 (Table 3 col5) are the preferred own-price demand elasticities. || 'I find strong evidence that consumers respond to average price rather than marginal or expected marginal price' (abstract, p.537); 'Usually, the most policy-relevant price elasticity is the medium-long run elasticity that includes these lagged responses' (p.553)
Ito, K. (2014): "Do Consumers Respond to Marginal or Average Price? Evidence from Nonlinear Electricity Pricing." American Economic Review, 104(2), 537–563.