A Survey of Utility Experience with Real Time Pricing

Barbose, Galen; Goldman, Charles A.; Neenan, Bernie

doi:10.2172/836966

Cited by 138 publications

(99 citation statements)

References 14 publications

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“…Several studies investigate the relationship between time-of-use tariffs and energy consumption (Bernard et al, 2011;Garcia-Cerrutti, 2000;Kamerschen and Porter, 2004;Olmos et al, 2011;Walawalkar et al, 2010). Pilot studies have reported significant demand reductions in the industrial and commercial sectors for some time-based pricing experiments (Barbose et al, 2004).…”

Section: Time-based Pricingmentioning

confidence: 99%

Measuring the financial impact of demand response for electricity retailers

Feuerriegel

Neumann

2014

Energy Policy

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Due to the integration of intermittent resources of power generation such as wind and solar, the amount of supplied electricity will exhibit unprecedented fluctuations. Electricity retailers can partially meet the challenge of matching demand and volatile supply by shifting power demand according to the fluctuating supply side. The necessary technology infrastructure such as Advanced Metering Infrastructures for this so-called Demand Response (DR) has advanced. However, little is known about the economic dimension and further effort is strongly needed to realistically quantify the financial impact. To succeed in this goal, we derive an optimization problem that minimizes procurement costs of an electricity retailer in order to control Demand Response usage. The evaluation with historic data shows that cost volatility can be reduced by 7.74 %; peak costs drop by 14.35 %; and expenditures of retailers can be significantly decreased by 3.52 %.

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Section: Time-based Pricingmentioning

confidence: 99%

Measuring the financial impact of demand response for electricity retailers

Feuerriegel

Neumann

2014

Energy Policy

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“…Products offered by competitive retail suppliers would provide customers with choices on how much price risk to bear. To increase market efficiency, others could extend that prescription to vertically integrated markets through self-selecting RTP type services (Barbose, et al, 2004). …”

Section: Introductionmentioning

confidence: 99%

Customer Response to RTP in Competitive Markets: A Study of Niagara Mohawk’s Standard Offer Tariff

Boisvert¹,

Cappers²,

Goldman³

et al. 2007

The Energy Journal

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Utilizing load, price, and survey data for 119 large customers that paid competitively determined hourly electricity prices announced the previous day between 2000 and 2004, this study provides insight into the factors that determine the intensity of price response. Peak and off-peak electricity can be: perfect complements, substitutes, or substitutes where high peak prices cause temporary disconnection from the grid, as for some firms with on-site generation. The average elasticity of substitution is 0.11. Thirty percent of the customers use peak and off-peak electricity in fixed proportions. The 18% with elasticities greater than 0.10 provide 75% of the aggregate price response. In contrast to Industrial customers, Commercial/Retail and Government/Education customers are more price responsive on hot days and when the ratio of peak to off-peak prices is high. Price responsiveness is not substantially reduced when customers operate near peak usage. Diversity of customer circumstances and price response suggest dynamic pricing is suited for some, but not all customers.2

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“…Specifically, the SPP survey revealed that in 2008 there were a total of 47 different retail DR initiatives currently being offered in that RTOs footprint: 36 incentive-based DR programs, five time-based retail rates, and six voluntary response programs. 10 Retail DR as a whole in SPP is estimated to provide 1,552 MW of potential coincident peak demand reduction, 13% of which comes from customers on time-based rates while the remaining 87% is associated with incentive-based DR programs. 11 The MWDRI study indicated that as of late 2007 there were over 122 different retail incentive-based DR programs being offered to customers, and 19 different time-based retail rates in the region's utility tariffs.…”

Section: Spp Mwdrimentioning

confidence: 99%