The Transactions of The Korean Institute of Electrical Engineers (전기학회논문지)

The Korean Institute of Electrical Engineers (대한전기학회)
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A Study on the Revenue Reconciliation Algorithm of Real-time Pricing Considering Imperfect Information on Customer Response

불완전한 수요반응 정보를 고려한 실시간가격제의 수익보정 방법에 대한 연구

  • Kwon, Jong-Hwan (Dept. of Electrical and Control Eng., Hongik Univerity) ;
  • Kim, Balho H. (Dept. of Electrical and Electronic Eng., Hongik Univerity)
  • 권종환 (홍익대 대학원 전기정보제어공학과) ;
  • 김발호 (홍익대학교 전기정보제어공학과)
  • Received : 2012.04.12
  • Accepted : 2012.10.22
  • Published : 2013.03.01
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Abstract

The Real-Time-Pricing (RTP) brings greatest values in terms of economic incentives and efficiency among the dynamic pricing schemes. The electric power industry in Korea is mainly operated by publicly owned utilities and strongly regulated by the government; therefore, revenue reconciliation of RTP is inevitably required to prevent revenue deficits. In this paper, a revenue reconciliation of real-time pricing considering imperfect information on customer response is proposed to prevent revenue deficit and distortion of the spot price. A case study is present to verify the applicability of the proposed method.

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References

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