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http://dx.doi.org/10.7838/jsebs.2012.17.2.105

Study on Optimal Real Time Pricing Model for Smart Grid in a Power Retailer Market  

Moon, Joon-Yung (서울대학교 산업공학과)
Shin, Ki-Tae (대진대학교 산업경영공학과)
Park, Jin-Woo (서울대학교 산업공학과)
Publication Information
The Journal of Society for e-Business Studies / v.17, no.2, 2012 , pp. 105-114 More about this Journal
Abstract
Recently, global warming, energy shortage, and environmental disruption have been serious problems in every nation. It became more and more important to reduce the emission of CO2 and to use of energy efficiently. Smart grid was also introduced using the rapidly developing information technology. It deployed the mutual communication concept between customers and the suppliers in the electricity supply. There were increasing demands to adopt the smart meter and to present incentive for efficient energy usage in many developed countries. The objective of this research was to develop the optimal real time pricing model which maximized the profit of the power retailer and reduced the usage of energy. The simulation study was given to show the usefulness of the model. Simulation considered the customer demand response rate and price elasticity rate. The price elasticity rate was compared in the condition of fixed value according to time and variable value according to the customers. The optimal price model could maximize the profit of the power retailer and reduce the energy usage of the consumers.
Keywords
Smart Grid; Power Retailer Market; Real Time Pricing; Energy Usage;
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