| Title |
Evaluation of a Load Serving Entity Revenue in the Real Time Pricing Considering Customer's Utility |
| Authors |
노준우(Noh, Jun-Woo) ; 김문겸(Kim, Mun-Kyeom) ; 김도한(Kim, Do-Han) ; 유태현(Yoo, Tae-Hyun) ; 박종근(Park, Jong-Keun) |
| DOI |
https://doi.org/10.5370/KIEE.2011.60.2.266 |
| Keywords |
Expected utility theory ; Load serving entity ; Real-time pricing ; Risk-hedging |
| Abstract |
Real Time Pricing(RTP) is used not only to stabilize the price volatility in electricity market, but to hedge the price risk for Load Serving Entity(LSE). This paper presents an efficient method to reduce the risk of the price volatility in real-time electricity market. For designing the RTP, load patterns of customer are calculated by applying the demand elasticity and customer's utility is also analyzed to compute the RTP revenue through the risk-attribute of the LSE. In the end, the distribution of the LSE's profits can be evaluated to lead the optimal RTP value, depending on the level of customer's participation. Results from the case study based on PJM data are reported to illustrate the proposed method. |