In current electricity market, demand side buys power indirectly through electric utilities, and it makes the demand side inelastic to market's price volatility and significantly affects the efficiency of the market. To fix the problem, it is esse...
Electrical engineering, Power resources, Economics
Description
Reducing the difference between on peak and off peak demand has long been recognized by utilities as an effective way of cutting the cost of producing electricity. Moreover, having prior knowledge about dynamic electricity rates gives the consumer...