Journal of Energy Engineering (에너지공학)

The Korean Society for Energy (한국에너지학회)
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A Value-based Real Time Pricing Under Imperfect Information on Consumer Behavior

  • Kim, Balho H. (Hong-Ik University , School of Electrical Engineering) ;
  • Park, Jong-Bae (Anyang University , School of Electrical Engineering)
  • Published : 1999.11.01
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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 ina nodal auction model, and can also be applied to direct load control.

Keywords

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