In a smart grid system, different types of electricity users such as residential, commercial and industrial have utility functions. This paper proposes nonlinear constrained optimization model for real-time pricing that maximizes the total utilities all user groups. A Karush–Kuhn–Tucker equation system is employed to solve model. However, it challenging task due complementary condition. To tack...

The optimal planning of grid-connected microgrids (MGs) has been extensively studied in recent years. While most the previous studies have used fixed or time-of-use (TOU) prices for sizing MGs, this work introduces real-time pricing (RTP) implementing a demand response (DR) program according to national grid Iran. In addition long-term MG, day-ahead operation MG is also analyzed get better unde...

Marketing research has identified several benefits of dynamic pricing strategies in the retail industry. However, today’s retailers are limited to apply them in real-time to customer needs as corresponding pricing services provided by smart product infrastructures have not been adopted so far. In addition, dynamic pricing strategies rely on a business service ecosystem of retailers, suppliers, ...