Dynamic Pricing of Electricity: A Survey of Related Research
نویسندگان
چکیده
In this paper, we survey 82 papers related to revenue management and dynamic pricing of electricity and lists future research avenues in this field. Dynamic pricing has the potential to modify electric load profiles by charging different prices at different demand levels and hence can act as an effective demand side management tool. There are different forms of dynamic prices that can be offered to different markets and customers. Forecasting of demand, and demand price relationship play an important role in determining prices and helps in scheduling load in dynamic pricing environments. Consumers‘ willingness-to-pay for electricity services is also necessary in setting price limits. Elasticity of demand is an indication of the demand response to changing prices. Market segmentation can enhance the effects of such pricing schemes. Appropriate scheduling of electrical load enhances the consumer response to dynamic tariffs.
منابع مشابه
Dynamic Modeling of Grid Connected Photovoltaic Systems and Their Techno-Economic Assessment under Different Scenarios in Residential Sector of Several Large Cities of Iran
This research aims to model and study the techno-economic aspects of grid-connected distributed photovoltaic systems for use in the residential sector in several large cities of Iran including Esfahan, Bandar Abbas, Tehran, Tabriz, Shiraz, and Yazd. The dynamic modelling is performed using hourly metrological data and hourly electricity demand of households. The impacts of pricing policies and ...
متن کاملHow Does Pricing of Day-ahead Electricity Market Affect Put Option Pricing?
In this paper, impacts of day-ahead market pricing on behavior of producers and consumers in option and day-ahead markets and on option pricing are studied. To this end, two comprehensive equilibrium models for joint put option and day-ahead markets under pay-as-bid and uniform pricing in day-ahead market are presented, respectively. Interaction between put option and day-ahead markets, uncerta...
متن کاملMulti-Objective Model for Fair Pricing of Electricity Using the Parameters from the Iran Electricity Market Big Data Analysis
Assessment of the electricity market shows that, electricity market data can be considered "big data". this data has been analyzed by both conventional and modern data mining methods. The predicted variables of supply and demand are considered to be the input of a defined multi-objective for predicting electricity price, which is the result of the defined model. This shows the advantage of appl...
متن کاملA New Approach for Accurate Pricing of Reactive Power and Its Application to Cost Allocation in Deregulated Electricity Markets
Reactive power management plays an essential role in the secure operation of the power system as an ancillary service. Although in electricity markets, the particular attention is paid to active power, the reactive power also plays an important on total generation costs of electricity. On the other hand, as it is mainly confined to local consumption, to avoid market power and maintain the se...
متن کاملNumerical Methods of Option Pricing for Two Specific Models of Electricity Prices
In this work, two models are proposed for electricity prices as energy commodity prices which in addition to mean-reverting properties have jumps and spikes, due to non-storability of electricity. The models are simulated using an Euler scheme, and then the Monte-Carlo method is used to estimate the expectation of the discounted cash-flow under historical probability, which is considered as the...
متن کامل