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A fuzzy logic-based approach for pricing of electricity in Jordan

Author

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  • Ghada A. Altarawneh

    (Mutah University)

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.

Suggested Citation

  • Ghada A. Altarawneh, 2018. "A fuzzy logic-based approach for pricing of electricity in Jordan," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 17(5), pages 365-372, October.
    • Handle: RePEc:pal:jorapm:v:17:y:2018:i:5:d:10.1057_s41272-018-00160-8
    DOI: 10.1057/s41272-018-00160-8
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    References listed on IDEAS

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    1. José M. Merigó & Montserrat Casanovas, 2011. "The Uncertain Generalized Owa Operator And Its Application To Financial Decision Making," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 10(02), pages 211-230.
    2. Mak, Juliet C. & Chapman, Bruce R., 1993. "A survey of current real-time pricing programs," The Electricity Journal, Elsevier, vol. 6(7), pages 76-77.
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    Citations

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    Cited by:

    1. Ghada A. Altarawneh & Ahmad B. Hassanat & Ahmad S. Tarawneh & David Carfì & Abdullah Almuhaimeed, 2022. "Fuzzy Win-Win: A Novel Approach to Quantify Win-Win Using Fuzzy Logic," Mathematics, MDPI, vol. 10(6), pages 1-17, March.
    2. Ghada Altarawneh, 2021. "A fuzzy logic-based approach for progressive pricing of freshwater in Jordan," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 20(4), pages 480-489, August.

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