Is real-time electricity pricing suitable for residential users without demand-side management?

Energy

Volumn 109, Issue , 2016, Pages 310-325

  Campillo, Javier ^a   Dahlquist, Erik ^a   Wallin, Fredrik ^a   Vassileva, Iana ^a  

^a MÄLARDALEN UNIVERSITY   (Sweden)

Author keywords

Dynamic pricing; Electricity market; Power systems; Real time pricing; Smart metering

Indexed keywords

DEMAND SIDE MANAGEMENT; ELECTRIC MEASURING INSTRUMENTS; ELECTRIC POWER MEASUREMENT; ELECTRIC POWER UTILIZATION; ELECTRIC UTILITIES; POWER MARKETS; REAL TIME SYSTEMS; SALES; STANDBY POWER SYSTEMS;

DYNAMIC PRICING; ELECTRICITY CONTRACTS; ELECTRICITY COSTS; ELECTRICITY PRICES; ELECTRICITY PRICING; LITERATURE REVIEWS; REAL TIME PRICING; SMART METERING;

COSTS;

COST ANALYSIS; COST-BENEFIT ANALYSIS; DEMAND-SIDE MANAGEMENT; ECONOMIC IMPACT; ELECTRICITY; ENERGY MARKET; ENERGY USE; LITERATURE REVIEW; REAL TIME;

SWEDEN;

EID: 84971231501     PISSN: 03605442     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.energy.2016.04.105     Document Type: Article

References (39)

1. Loisel R. Power system flexibility with electricity storage technologies: a technical-economic assessment of a large-scale storage facility. Int J Electr Power Energy Syst 2012, 42(1):542-552. 10.1016/j.ijepes.2012.04.058.
2. Hausman W.J., Neufeld J.L. Time-of-Day Pricing in the U.S. Electric Power Industry at the Turn of the Century. The RAND Journal of Economics 1984, 15(1):116-126. Retrieved from: http://www.jstor.org/stable/3003674.
3. Wallin F., Bartusch C., Thorin E., Bdckstrom T., Dahlquist E. The use of automatic meter readings for a demand-based tariff. 2005 IEEE/PES Transmission & Distribution Conference & Exposition: Asia and Pacific 2005, 1-6. IEEE. 10.1109/TDC.2005.1547125.
4. Borenstein S, Jaske M, Rosenfeld A, Dynamic pricing, advanced metering, and demand response in electricity markets, Center for the Study of Energy Markets.
5. Gyamfi S., Krumdieck S. Price, environment and security: exploring multi-modal motivation in voluntary residential peak demand response. Energy Policy 2011, 39(5):2993-3004. 10.1016/j.enpol.2011.03.012.
6. Faria P., Vale Z. Demand response in electrical energy supply: an optimal real time pricing approach. Energy 2011, 36(8):5374-5384. 10.1016/j.energy.2011.06.049.
7. NordREG NordREG report on the price peaks in the Nordic wholesale market during winter 2009-2010 2011, Tech. rep., Nordic Energy Regulators. http://www.nordicenergyregulators.org/wp-content/uploads/2013/02/Nordic_Price:Peak_Report20111.pdf.
8. Heydarian-Forushani E., Moghaddam M., Sheikh-El-Eslami M., Shafie-khah M., Catalão J. A stochastic framework for the grid integration of wind power using flexible load approach. Energy Convers Manag 2014, 88:985-998. 10.1016/j.enconman.2014.09.048.
9. Shafiullah G.M., Oo A.M.T., Shawkat Ali A.B.M., Wolfs P. Potential challenges of integrating large-scale wind energy into the power grid-a review. Renew Sustain Energy Rev 2013, 20:306-321. 10.1016/j.rser.2012.11.057.
10. Schaber K., Steinke F., Mühlich P., Hamacher T. Parametric study of variable renewable energy integration in Europe: advantages and costs of transmission grid extensions. Energy Policy 2012, 42:498-508. 10.1016/j.enpol.2011.12.016.
11. N.E.Regulators NordREG's market report 2013: development in the Nordic electricity market 2013, Tech. rep., Nordic Energy Regulators. http://www.nordicenergyregulators.org/wp-content/uploads/2013/02/Nordic_Market-report_2013.pdf.
12. NordREG Nordic market report 2011. Development in the Nordic electricity market 2011, Tech. rep., Nordic Energy Regulators. http://www.nordicenergyregulators.org/wp-content/uploads/2013/02/nmr2011-final-for-publication.pdf.
13. Energimyndigheten Price formation and competition in the Swedish electricity market 2006, Tech. rep., Swedish Energy Agency, ISSN 1653-8056. mailto:publikationsservice/energimyndigheten.se.
14. NordPool Spot Europe's leading power markets 2015, Tech. rep., Nordpool Spot, Oslo, Norway. http://www.nordpoolspot.com/globalassets/download-center/annual-report/nord-pool-spot_europes-leading-power-markets.pdf.
15. Energy Markets Inspectorate The Swedish electricity and natural gas markets 2013 2013, Tech. rep., Energy Markets Inspectorate, Eskilstuna, Sweden. https://www.ei.se/Documents/Publikationer/rapporter_och_pm/Rapporter%202014/Ei_R2014_18.pdf.
16. N.E.Regulators The Swedish electricity and natural gas markets 2012 2012, Tech. rep., NordREG. http://www.energimarknadsinspektionen.se/Documents/Publikationer/rapporter_och_pm/Rapporter%202013/Ei_R2013_14.pdf.
17. Energy Markets Inspectorate The Swedish electricity and natural gas markets 2014 2014, Tech. rep., Energy Markets Inspectorate, Eskilstuna, Sweden. http://ei.se/Documents/Publikationer/rapporter_och_pm/Rapporter%202015/Ei_R2015_16.pdf.
18. Vassileva I., Campillo J. Consumers perspective on full-scale adoption of smart meters: a case study in Västerås, Sweden. Resources 2016, 5(1):3. URL. http://www.mdpi.com/2079-9276/5/1/3, 10.3390/resources5010003.
19. Broberg T., Persson L. An electricity market in transition Is consumer flexibility for sale, or even for real? 2015, Tech. rep., Umea University. http://ei.se/PageFiles/159248/An_electricity_market_in_transition.pdf.
20. Chao H. An economic framework of demand response in restructured electricity markets 2009, 1-48. Harvard Electricity Policy Group.
21. Kok K, Roossien B, MacDougall P, van Pruissen O, Venekamp G, Kamphuis R, Laarakkers J, Warmer C, Dynamic pricing by scalable energy management systems - field experiences and simulation results using PowerMatcher, 2012 IEEE Power and Energy Society General Meeting doi:10.1109/PESGM.2012.6345058.
22. Valencia-Salazar I., Álvarez C., Escrivá-Escrivá G., Alcázar-Ortega M. Simulation of demand side participation in Spanish short term electricity markets. Energy Convers Manag 2011, 52(7):2705-2711. 10.1016/j.enconman.2011.02.005.
23. Kiliccote S., Piette M.A., Watson D.S., Hughes G. Dynamic controls for energy efficiency and demand response: framework concepts and a new construction study case in New York. 2006 ACEEE Summer Study on Energy Efficiency in Buildings 2006, 13.
24. Bellarmine G, Load management techniques, Southeastcon 2000. Proceedings of the IEEE.
25. Goulden M., Bedwell B., Rennick-Egglestone S., Rodden T., Spence A. Smart grids, smart users? The role of the user in demand side management. Energy Res Soc Sci 2014, 2:21-29. 10.1016/j.erss.2014.04.008.
26. Thorsnes P., Williams J., Lawson R. Consumer responses to time varying prices for electricity. Energy Policy 2012, 49:552-561. 10.1016/j.enpol.2012.06.062.
27. Torriti J. Price-based demand side management: assessing the impacts of time-of-use tariffs on residential electricity demand and peak shifting in Northern Italy. Energy 2012, 44(1):576-583. 10.1016/j.energy.2012.05.043.
28. Darby S.J., McKenna E. Social implications of residential demand response in cool temperate climates. Energy Policy 2012, 49:759-769. 10.1016/j.enpol.2012.07.026.
29. Stromback J., Dromacque C., Yassin M.H., Energy G., Tank T. The potential of smart meter enabled programs to increase energy and systems efficiency: a mass pilot comparison short name: empower demand 2011, Tech. rep., VaasaETT, Global Energy Think Tank. http://esmig.eu/sites/default/files/2011.10.12_empower_demand_report_final.pdf.
30. Statistics Sweden Prices on electricity for different kind of consumers and agreements, time serie 2013, URL. http://www.scb.se.
31. Triami Media BV - inflation.eu Historic inflation Sweden - CPI inflation 2015, URL. http://www.inflation.eu/inflation-rates/sweden/historic-inflation/cpi-inflation-sweden.aspx.
32. Svensk Energi Electricity tax history 1954-2014 2014, Tech. rep., Svensk Energi. http://www.svenskenergi.se/Global/Statistik/El%E5ret/Sv%20Energi_el%E5ret2013_versJUNI2014.pdf.
33. NordPool Spot Annual review 2003 2003, Tech. rep., NordPool Spot, Oslo, Norway. http://www.nordpoolspot.com/globalassets/download-center/annual-report/annual-review_nord-pool-spot_2003.pdf.
34. Campillo J., Wallin F., Vassileva I., Dahlquist E. Electricity demand impact from increased use of ground sourced heat pumps. 2012 3rd IEEE PES Innovative Smart Grid Technologies Europe (ISGT Europe) 2012, 1-7. IEEE. 10.1109/ISGTEurope.2012.6465876.
35. Weron R, Simonsen I, Wilman P, Modeling highly volatile and seasonal markets: evidence from the Nord Pool electricity market, The application of econophysics.
36. Julio L., Hipòlit T. Short-term Electricity Future Prices: Evidence on the Time-varying Risk Premium. IVIE Working Papers 2008.
37. Magnus P., Andreas Z. Northern light - The Nordic power market. International Water Power & Dam Construction 2004.
38. Twardosz R., Kossowska-Cezak U. Exceptionally hot summers in Central and Eastern Europe (19512010). Theor Appl Climatol 2012, 112(3-4):617-628. 10.1007/s00704-012-0757-0.
39. Rebetez M., Dupont O., Giroud M. An analysis of the July 2006 heatwave extent in Europe compared to the record year of 2003. Theor Appl Climatol 2008, 95(1-2):1-7. 10.1007/s00704-007-0370-9.