IDEAS home Printed from https://ideas.repec.org/a/pkp/enerev/2014p87-114.html
   My bibliography  Save this article

A Model of Optimal Time-of-Day Pricing of Electricity under Diverse Welfare Assumptions

Author

Listed:
  • Vijayamohanan Pillai N.

    (Associate Professor, Centre for Development Studies, Prasanth Nagar, Ulloor, Trivandrum - 695 011, Kerala India)

Abstract

An important feature of an electric power system is that its customer’s load varies greatly at random according to time of day, and day of season. Time-of-day pricing of electricity is an indirect load management against such variable demand according to which electricity is charged in relation to the time-differential cost of supply. The present study is an attempt at modeling seasonal time-differential pricing of electricity. The static, deterministic model that we present incorporates diverse technology, as well as soft deterministic equivalents of chance constraints representing stochastic demand and inflows. The model is solved for two types of power systems – pure hydro and hydro-thermal – under the umbrellas of four structural assumptions – first best, second-best, monopoly and constrained monopoly.

Suggested Citation

  • Vijayamohanan Pillai N., 2014. "A Model of Optimal Time-of-Day Pricing of Electricity under Diverse Welfare Assumptions," Energy Review, Conscientia Beam, vol. 1(2), pages 87-114.
  • Handle: RePEc:pkp:enerev:2014:p:87-114
    DOI: 10.18488/journal.81/2014.1.2/81.2.87.114
    as

    Download full text from publisher

    File URL: http://www.conscientiabeam.com/journal/81/abstract/3415
    Download Restriction: no

    File URL: http://www.conscientiabeam.com/journal/81/abstract/3415
    Download Restriction: no

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pkp:enerev:2014:p:87-114. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Editorial Office). General contact details of provider: http://www.conscientiabeam.com/journal/81 .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.