Title :
An Efficient Time-of-Use Pricing Model for a Retail Electricity Market Based on Pareto Improvement
Author :
Liao Yingchen ; Chen Lu ; Chen Xingying
Author_Institution :
Coll. of Energy & Electr. Eng., Hohai Univ., Nanjing, China
Abstract :
Time-of-Use (TOU) pricing is one of Demand Response mechanisms that consumers shift load along with electricity price changes. A model of TOU pricing for a retail electricity market on Pareto Improvement method is proposed, based on the short-term marginal cost, considering the effect of consumer response by price elasticity matrix of electricity demand. The objective is minimum network losses while the profits of the suppliers and consumers don´t decrease. IEEE14 bus test case shows the validity of the model.
Keywords :
Pareto analysis; power markets; pricing; retailing; Pareto improvement; electricity demand; price elasticity matrix; retail electricity market; shift load; short-term marginal cost; time-of-use pricing model; Automation; Biological system modeling; Elasticity; Electricity; Load modeling; Power systems; Pricing;
Conference_Titel :
Power and Energy Engineering Conference (APPEEC), 2011 Asia-Pacific
Conference_Location :
Wuhan
Print_ISBN :
978-1-4244-6253-7
DOI :
10.1109/APPEEC.2011.5748684
