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A Value-Based Real Time Pricing Under Imperfect Information on Consumer Behavior
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 Title & Authors
A Value-Based Real Time Pricing Under Imperfect Information on Consumer Behavior
Kim, Bal-Ho H.;
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 Abstract
One of the major challenges confronting a multiservice electric utility is the establishment of the right prices for its services. The key objectives of particular pricing schemes are reasonableness of company earnings, economic efficiency, the responsiveness of supply and of the allocation of sources to the desires of consumers, and maintenance of some degree of competition. This paper proposes a value-based pricing mechanism amenable to the current deregulation situation in electricity market allowing service differentiation. The proposed pricing mechanism can be implemented in a nodal auction model, and can also be applied to direct load control.
 Keywords
real time pricing;consumer behavior;pricing mechanism;value based rate;
 Language
English
 Cited by
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