Electricity pricing and social benefits analysis in interaction between supply and demand

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

Electricity price as a market lever plays a key role in interaction between supply and demand. Considering that electricity price in sale market is still regulated in some countries like China, we propose a new method of formulating peak-valley price (PVP) and interruptible price (IP) based on maximizing social benefits. Through implementation of the pricing measures, demand-side resources can be better integrated and exploited. In addition, advantages are complementary when two pricing measures are implemented together. Probabilistic production simulation and genetic algorithms (GA) are used as tools for solving. Results show that the proposed pricing mechanisms are reasonable and implementation of PVP and IP can bring more social benefits.

Original languageEnglish
Title of host publication2014 IEEE Innovative Smart Grid Technologies - Asia, ISGT ASIA 2014
PublisherIEEE Computer Society
Pages323-327
Number of pages5
ISBN (Print)9781479913008
DOIs
StatePublished - 2014
Event2014 IEEE Innovative Smart Grid Technologies - Asia, ISGT Asia 2014 - Kuala Lumpur, Malaysia
Duration: 20 May 201423 May 2014

Publication series

Name2014 IEEE Innovative Smart Grid Technologies - Asia, ISGT ASIA 2014

Conference

Conference2014 IEEE Innovative Smart Grid Technologies - Asia, ISGT Asia 2014
Country/TerritoryMalaysia
CityKuala Lumpur
Period20/05/1423/05/14

Keywords

  • genetic algorithms
  • interruptible price
  • peak-valley price
  • pricing measure
  • probabilistic production simulation

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