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Optimizing time of use (ToU) electricity pricing in regulated market

Time-of-Use (ToU) electricity price for residential consumers is receiving lots of attention lately with the increment of smart meters usage among residential customers. ToU prices reflect the actual electricity cost and the rate is commonly set base on market price of electricity. Implementing ToU...

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Main Authors: Abdullah, M. P., Nazar, N. S. M., Hassan, M. Y., Hussin, F.
Format: Article
Language:English
Published: Penerbit UTM Press 2016
Subjects:
TK Electrical engineering. Electronics Nuclear engineering
Online Access:http://eprints.utm.my/id/eprint/74388/1/MdPauziAbdullah2016_OptimizinTimeofUse%28ToU%29Electricity.pdf
http://eprints.utm.my/id/eprint/74388/
https://www.scopus.com/inward/record.uri?eid=2-s2.0-84970959803&doi=10.11113%2fjt.v78.8712&partnerID=40&md5=7cffb672abeeafc2264fd271a0a2bad2
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spelling my.utm.743882017-11-28T06:50:00Z http://eprints.utm.my/id/eprint/74388/ Optimizing time of use (ToU) electricity pricing in regulated market Abdullah, M. P. Nazar, N. S. M. Hassan, M. Y. Hussin, F. TK Electrical engineering. Electronics Nuclear engineering Time-of-Use (ToU) electricity price for residential consumers is receiving lots of attention lately with the increment of smart meters usage among residential customers. ToU prices reflect the actual electricity cost and the rate is commonly set base on market price of electricity. Implementing ToU pricing system on a regulated electricity system such as in Malaysia is complicated due to non existence of electricity market. The electrical utility company or the regulator will need to determine the optimum ToU prices that would give the correct price signal so that customers will react accordingly. Many factors need to be considered such as impact on electricity generation cost, load profile, load elasticity and customers’ satisfaction. This paper presents an optimization method to estimate the optimum ToU prices for given electricity demand profile and demand elasticity. The presented method able to reduce the gap between peak and off-peak demand and ensure the estimated ToU prices are fairly proportionate among hours i.e. summation of rate increments (from the fixed price) is equal to the summation of rate decrements. A simple system is used as a case study to demonstrate the application of the optimization method presented. Penerbit UTM Press 2016 Article PeerReviewed application/pdf en http://eprints.utm.my/id/eprint/74388/1/MdPauziAbdullah2016_OptimizinTimeofUse%28ToU%29Electricity.pdf Abdullah, M. P. and Nazar, N. S. M. and Hassan, M. Y. and Hussin, F. (2016) Optimizing time of use (ToU) electricity pricing in regulated market. Jurnal Teknologi, 78 (5-7). pp. 49-54. ISSN 0127-9696 https://www.scopus.com/inward/record.uri?eid=2-s2.0-84970959803&doi=10.11113%2fjt.v78.8712&partnerID=40&md5=7cffb672abeeafc2264fd271a0a2bad2
institution Universiti Teknologi Malaysia
building UTM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Malaysia
content_source UTM Institutional Repository
url_provider http://eprints.utm.my/
language English
topic TK Electrical engineering. Electronics Nuclear engineering
spellingShingle TK Electrical engineering. Electronics Nuclear engineering
Abdullah, M. P.
Nazar, N. S. M.
Hassan, M. Y.
Hussin, F.
Optimizing time of use (ToU) electricity pricing in regulated market
description Time-of-Use (ToU) electricity price for residential consumers is receiving lots of attention lately with the increment of smart meters usage among residential customers. ToU prices reflect the actual electricity cost and the rate is commonly set base on market price of electricity. Implementing ToU pricing system on a regulated electricity system such as in Malaysia is complicated due to non existence of electricity market. The electrical utility company or the regulator will need to determine the optimum ToU prices that would give the correct price signal so that customers will react accordingly. Many factors need to be considered such as impact on electricity generation cost, load profile, load elasticity and customers’ satisfaction. This paper presents an optimization method to estimate the optimum ToU prices for given electricity demand profile and demand elasticity. The presented method able to reduce the gap between peak and off-peak demand and ensure the estimated ToU prices are fairly proportionate among hours i.e. summation of rate increments (from the fixed price) is equal to the summation of rate decrements. A simple system is used as a case study to demonstrate the application of the optimization method presented.
format Article
author Abdullah, M. P.
Nazar, N. S. M.
Hassan, M. Y.
Hussin, F.
author_facet Abdullah, M. P.
Nazar, N. S. M.
Hassan, M. Y.
Hussin, F.
author_sort Abdullah, M. P.
title Optimizing time of use (ToU) electricity pricing in regulated market
title_short Optimizing time of use (ToU) electricity pricing in regulated market
title_full Optimizing time of use (ToU) electricity pricing in regulated market
title_fullStr Optimizing time of use (ToU) electricity pricing in regulated market
title_full_unstemmed Optimizing time of use (ToU) electricity pricing in regulated market
title_sort optimizing time of use (tou) electricity pricing in regulated market
publisher Penerbit UTM Press
publishDate 2016
url http://eprints.utm.my/id/eprint/74388/1/MdPauziAbdullah2016_OptimizinTimeofUse%28ToU%29Electricity.pdf
http://eprints.utm.my/id/eprint/74388/
https://www.scopus.com/inward/record.uri?eid=2-s2.0-84970959803&doi=10.11113%2fjt.v78.8712&partnerID=40&md5=7cffb672abeeafc2264fd271a0a2bad2
_version_ 1643656847875375104
score 13.211869

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