Tampere University of Technology

TUTCRIS Research Portal

Monetary impact of dynamic pricing and demand response on households: The winners and losers

Research output: Chapter in Book/Report/Conference proceedingConference contributionScientificpeer-review

Details

Original languageEnglish
Title of host publication2015 IEEE Power and Energy Society Innovative Smart Grid Technologies Conference, ISGT 2015
PublisherThe Institute of Electrical and Electronics Engineers, Inc.
ISBN (Print)9781479917853
DOIs
Publication statusPublished - 23 Jun 2015
Publication typeA4 Article in a conference publication
EventIEEE PES Conference on Innovative Smart Grid Technologies -
Duration: 1 Jan 1900 → …

Conference

ConferenceIEEE PES Conference on Innovative Smart Grid Technologies
Period1/01/00 → …

Abstract

Smart grid paradigm is hailed as the Holy Grail to manage the future electricity consumption in a sustainable manner, and demand response (DR) is a fundamental component in the realization of smart grids. However, DR requires active household participation and in the previous studies monetary benefit is identified as the main motivation for the households to participate. In this paper, we analyze DR on households in terms of the monetary impact. Smart meter data together with data about properties of households are used from 669 households. Dynamic pricing schema and DR model are proposed and utilized in simulations. Self-Organizing Maps (SOM) are applied to identify the household segments that are monetarily affected in the simulations.

Keywords

  • demand response, dynamic pricing, households, monetary impact, simulation

Publication forum classification