scholarly journals A time-of-use pricing model of the electricity market considering system flexibility

2022 ◽  
Vol 8 ◽  
pp. 1457-1470
Author(s):  
Presley K. Wesseh ◽  
Boqiang Lin
Keyword(s):  
Electricity Market ◽  
Pricing Model ◽  
Time Of Use Pricing

scholarly journals A Short-Term Decision Model for Electricity Retailers: Electricity Procurement and Time-of-Use Pricing

Energies ◽  
2018 ◽  
Vol 11 (12) ◽  
pp. 3258 ◽  
Author(s):  
Feihu Hu ◽  
Xuan Feng ◽  
Hui Cao
Keyword(s):  
Robust Optimization ◽  
Demand Response ◽  
Electricity Market ◽  
Decision Model ◽  
Expected Profit ◽  
Optimization Approach ◽  
Short Term ◽  
Spot Prices ◽  
Retail Prices ◽  
Time Of Use Pricing

This paper establishes a short-term decision model, based on robust optimization, for an electricity retailer to determine the electricity procurement and electricity retail prices. The electricity procurement process includes purchasing electricity from generation companies and from the spot market. The selling prices of electricity for the customers are based on time-of-use (TOU) pricing which is widely employed in modern electricity market as a demand response program. The objective of the model is to maximize the expected profit of the retailer through optimizing the electricity procurement strategy and electricity pricing scheme. A price elasticity matrix (PEM) is adopted to model the demand response. Also, uncertainty in spot prices is modeled using a robust optimization approach, in which price bounds are considered instead of predicted values. Using a robust optimization approach, the retailer can adjust the level of robustness of its decisions through a robust control parameter. A case study is presented to illustrate the performance of the model. The simulation results demonstrate that the developed model is effective in increasing the expected profit of the retailer and flattening the load profiles of customers.

Time-of-use pricing model based on power supply chain for user-side microgrid

2019 ◽  
Vol 248 ◽  
pp. 35-43 ◽  
Author(s):  
Kaile Zhou ◽  
Shuyu Wei ◽  
Shanlin Yang
Keyword(s):  
Supply Chain ◽  
Power Supply ◽  
Pricing Model ◽  
Model Based ◽  
Time Of Use Pricing

scholarly journals A Nodal Pricing Model for the Nordic Electricity Market

2014 ◽  
Author(s):  
Endre Bjorndal ◽  
Mette Helene Bjorndal ◽  
Victoria Gribkovskaia
Keyword(s):  
Electricity Market ◽  
Pricing Model ◽  
Nodal Pricing

Time-of-Use Pricing in the Electricity Market: An Application of Stackelberg Game

2019 ◽  
Author(s):  
Atharva Ketkar ◽  
Joselyn Koonamparampath ◽  
Mayur Sawant
Keyword(s):  
Power Consumption ◽  
Demand Response ◽  
Electricity Market ◽  
Stackelberg Game ◽  
Electrical Power ◽  
Electricity Industry ◽  
Electricity Price ◽  
Electricity Pricing ◽  
Best Response ◽  
Time Of Use Pricing

Abstract Electrical power, generated and consumed, is perhaps, one of today’s most important construct in determining the progress of a people. The power mismatch between the generated and consumed power is one of the major issues faced in the electricity industry. This can be addressed by analysing user behaviour and manipulating it. This paper attempts to put forth a demand response (DR) technique using the concept of Time-of-Use (ToU) electricity pricing. The utilities have an upper hand of quoting the electricity price whereas the users must follow this price and give their best response of power consumption. This process is similar to a leader-follower setting as in a Stackelberg game where the follower acts according to the leader’s strategy and gives its best response in every situation. This paper proposes a pricing technique where the users are charged according to the amount of power consumed in the specific period of time.

scholarly journals A Novel LCOE Pricing Model for Renewable Energy with Power Purchase Agreement: A Case Study in China

Processes ◽  
2021 ◽  
Vol 9 (10) ◽  
pp. 1780
Author(s):  
Jun Dong ◽  
Dongran Liu ◽  
Yaoyu Zhang ◽  
Yuanyuan Wang ◽  
Xihao Dou
Keyword(s):  
Renewable Energy ◽  
Electricity Markets ◽  
Electricity Market ◽  
Power Plants ◽  
Operating Cost ◽  
Operating Costs ◽  
Pricing Model ◽  
Correlation Degree ◽  
Energy Companies

To reach Carbon Peak in 2030 and Carbon Neutrality in 2060, China is developing renewable energy at a fast pace. Renewable energy enterprises will participate in the power market in an all-round way as China gradually improves its electricity market. Signing the Power Purchase Agreement (PPA) helps renewable energy companies to avoid market risk and achieve sustainable development. Therefore, a novel PPA pricing model is proposed in our research. Based on the theory of the Levelized Cost of Energy (LCOE), our model considers system operating costs in China’s dual-track electric power sector, which is both government-guided and market-oriented. First of all, key influencing factors of the PPA agreement are analyzed in view of the developments of the renewable energy and electricity markets in China. Next, the design of pricing strategies for renewable energy power plants to cope with market challenges is presented through a photovoltaic project case study. The results show that when the operating costs of the system are considered and other conditions remain unchanged, the investment payback period of the new energy power station will change from 10.8 years to 13.6 years. Furthermore, correlation degree and sensitivity coefficient (SAF) were introduced to conduct correlation analysis and sensitivity analysis of key elements that affect the pricing of the PPA. Finally, it is concluded that the utilization hours of power generation have the most significant effect on the PPA price, while the system’s operating cost is the least sensitive factor. The study expands the application of LCOE, and provides a decision-making solution for the PPA pricing of renewable energy power enterprises. It is expected to help promote power transactions by renewable energy companies.

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