OPTIMIZATION OF ELECTRICITY TARIFFS FOR PEAK LOAD BALANCING AT THE DOMESTIC LEVEL
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Dec 17, 2012
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Abstract
Domestic load balancing is a major concern for several countries, particularly where the demand is close to the available generation capacity. This is represented in the deregulated market by higher pricing during peak periods. Moreover, households face a vast assortment of increasing electricity prices and increased awareness for environmental sustainability.
The optimization of power electricity tariffs offered to consumers by their utilities is invariably the primary reason given for introducing competitive electricity markets. In This paper develops optimization model for residential electricity tariffs for demand response (DR) in order to maximize the consumers' gain by shifting to Economy7 (TOU) tariff rather than standard tariff. A linear programming, a detailed development of the Simplex method, and the problem of minimizing a linear cost function subject to linear equality and inequality constraints have been introduced. Results have been presented, and discussed.
The optimization of power electricity tariffs offered to consumers by their utilities is invariably the primary reason given for introducing competitive electricity markets. In This paper develops optimization model for residential electricity tariffs for demand response (DR) in order to maximize the consumers' gain by shifting to Economy7 (TOU) tariff rather than standard tariff. A linear programming, a detailed development of the Simplex method, and the problem of minimizing a linear cost function subject to linear equality and inequality constraints have been introduced. Results have been presented, and discussed.