A Real-Time Pricing Model for Electricity Consumption
نویسنده
چکیده
The California electric company, i.e., PG&E (Pacific Gas and Electric Co.,), has recently announced its intentions to charge small businesses in the state with dynamic prices for electricity consumption. In this regard, we study a real-time electricity pricing model in the paper and compare it with two static pricing models. We show that real-time pricing outplays static pricing when it comes to jointly maximizing provider and consumer welfare.
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