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Optimizing time of use (tou) electricity pricing in regulated market
Md Pauzi Abdullah1, Mohammad Yusri Hassan2, Faridah Hussin3, Nazatul Shiema Moh Nazar4.
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.
Affiliation:
- Universiti Teknologi Malaysia, Malaysia
- Universiti Teknologi Malaysia, Malaysia
- Universiti Teknologi Malaysia, Malaysia
- Universiti Pertahanan Nasional Malaysia, Malaysia
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Indexation |
Indexed by |
MyJurnal (2021) |
H-Index
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6 |
Immediacy Index
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0.000 |
Rank |
0 |
Indexed by |
Scopus 2020 |
Impact Factor
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CiteScore (1.4) |
Rank |
Q3 (Engineering (all)) |
Additional Information |
SJR (0.191) |
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