Dynamic Pricing of Electricity: A Survey of Related Research

Goutam Dutta and Krishnendranath Mitra

No WP2015-08-03, IIMA Working Papers from Indian Institute of Management Ahmedabad, Research and Publication Department

Abstract: In this paper, we survey 82 papers related to revenue management and dynamic pricing of electricity and lists future research avenues in this field. Dynamic pricing has the potential to modify electric load profiles by charging different prices at different demand levels and hence can act as an effective demand side management tool. There are different forms of dynamic prices that can be offered to different markets and customers. Forecasting of demand, and demand price relationship play an important role in determining prices and helps in scheduling load in dynamic pricing environments. Consumers’ willingness-to-pay for electricity services is also necessary in setting price limits. Elasticity of demand is an indication of the demand response to changing prices. Market segmentation can enhance the effects of such pricing schemes. Appropriate scheduling of electrical load enhances the consumer response to dynamic tariffs.

Date: 2015-08-12
New Economics Papers: this item is included in nep-ene, nep-mkt and nep-reg
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.iima.ac.in/sites/default/files/rnpfiles/167750922015-08-03.pdf English Version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:iim:iimawp:13724

Access Statistics for this paper

More papers in IIMA Working Papers from Indian Institute of Management Ahmedabad, Research and Publication Department Contact information at EDIRC.
Bibliographic data for series maintained by ().