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Time-of-Use (TOU) pricing is one of Demand Response mechanisms that consumers shift load along with electricity price changes. A model of TOU pricing for a retail electricity market on Pareto Improvement method is proposed, based on the short-term marginal cost, considering the effect of consumer response by price elasticity matrix of electricity demand. The objective is minimum network losses while the profits of the suppliers and consumers don't decrease. IEEE14 bus test case shows the validity of the model.