Journal of the Korean Operations Research and Management Science Society (한국경영과학회지)

The Korean Operations Research and Management Science Society (한국경영과학회)
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Demand Response Real Time Pricing Model for Smart Grid Considering Consumer Behavior and Price Elasticity

소비자 행동과 가격탄성을 고려한 스마트 그리드 수요반응 실시간 가격 결정 모델

  • Moon, Yongma (College of Business Administration, The University of Seoul)
  • 문용마 (서울시립대학교 경영대학 경영학부)
  • Received : 2013.04.05
  • Accepted : 2013.11.26
  • Published : 2014.03.31
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Abstract

This paper proposes a real time pricing model for smart grid considering consumers' behavior, real time price elasticity, and exogenous price. Based on the proposed model, we found the weight of utility over cost is the most sensitive factor compared to other factors. Also, if the electricity price is set to be changed too sensitively to energy consumption, it is warned that real time pricing sometimes can cause increment of peak-time demand and volatility. Finally, real time pricing could be less efficient when the difference between the maximum and the minimum consumption level is small.

Keywords

References

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