A fuzzy logic-based approach for pricing of electricity in Jordan
Ghada A. Altarawneh ()
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Ghada A. Altarawneh: Mutah University
Journal of Revenue and Pricing Management, 2018, vol. 17, issue 5, 365-372
Abstract This paper aims to provide a feasible and practical tool for decision makers in the energy and electricity sectors, represented by EMRC, in order to calculate a reasonable selling price for electricity in Jordan. We propose an alternative approach using a fuzzy logic technique to help EMRC assign a fair and dynamic sale price for electricity, based on two categories of electricity consumption (low and high). Our experimental results, based on simulated data, show that the proposed method provides fair prices to both customer and service providers, allowing an easy and effective way to increase/decrease electricity prices.
Keywords: Pricing; Value-based pricing; Electricity bill; Fuzzy logic (search for similar items in EconPapers)
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