Wednesday, 2 April 2014

Customers respond to fluctuating energy prices in real time

With customers resond to fluctuating prices In real time to encourage the demand side response may reduce the need for investment in grid reinforcement and infrastructure.

pilot rojects are underway by a sample group of households which are installed a smart addition to their electricity meters that collects, analyses and redistributes usage data minute-by-minute. At the same time, the system displays the cost of the electricity, allowing consumers to control their consumption in response to changing prices and target spend thresholds that they have set themselves.

cloud-based information management service, provided by energy management system which willreceive, store, and process consumption data and then present it to customers via browser, tablet or smart phone. It also alerts customers via email or sms when they are approaching their target spend, allowing them to change their behaviour accordingly.

The goal is to see how customers react to energy prices in real time and how they relate to the spend targets that they have set for themselves
Aim of pilot is to create tariffs that contribute to more consistent electricity consumption. Customers will be encouraged to save money by using less electricity during peak periods in the morning and afternoon, which will in turn reduce the load on the grid.
“There is a lot of interest in dynamic pricing and the contribution it can make to demand side response solutions. achieving both simplification and time-of-use tarrifs so that all stakeholders share the benefits. 


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