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The impact of social network on the adoption of real-time electricity pricing mechanism
China Univ Petr, Acad Chinese Energy Strategy, Beijing, Peoples R China..ORCID iD: 0000-0001-8509-4349
China Univ Petr, Acad Chinese Energy Strategy, Beijing, Peoples R China..ORCID iD: 0000-0003-0254-8371
Mälardalen University, School of Business, Society and Engineering, Future Energy Center.ORCID iD: 0000-0002-6279-4446
China Univ Petr, Acad Chinese Energy Strategy, Beijing, Peoples R China..ORCID iD: 0000-0003-3893-1575
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2017 (English)In: PROCEEDINGS OF THE 9TH INTERNATIONAL CONFERENCE ON APPLIED ENERGY / [ed] Yan, J Wu, J Li, H, ELSEVIER SCIENCE BV , 2017, p. 3154-3159Conference paper, Published paper (Refereed)
Abstract [en]

The option menu of electricity tariffs is a compromise way for introducing real-time pricing (RTP) to consumers while remain the alternative fixed pricing (FP). Since it is difficult for a consumer to evaluate RTP and FP two tariffs because of the information asymmetry, and the acquaintances' opinions may play an important role when making a choice. This study aims to evaluate the impact of the social network on the diffusion of real-time electricity price using evolutionary game theoretical analysis. Consumers with heterogeneities in demand response capability and relationships in the social network are considered in an electricity market RTP and FP simultaneously. The consumers who adopt RTP can response to the varying price by shifting their electricity consumption to minimize their expenditures and inversely influence the price. As a case study, hundreds of scenarios of different initial conditions including social networks structures and update rules were analyzed and inter-compared using the developed model. The results show that: (i) the higher degree of the consumers social network, the slower the diffusion of RTP; (ii) increasing the proportion of consumers with high demand response capability can promote the adoption of RTP, implying the worth of promoting the utilization of smart home technology; (iii) a small exogenous probability (e.g. 1%) of the tariff choice mutation can accelerate the diffusion of RTP, indicating that the advertisement of RTP can be useful.

Place, publisher, year, edition, pages
ELSEVIER SCIENCE BV , 2017. p. 3154-3159
Series
Energy Procedia, ISSN 1876-6102 ; 142
Keywords [en]
Evolutionary game, Social network, Real-time price, Demand response
National Category
Energy Engineering
Identifiers
URN: urn:nbn:se:mdh:diva-42258DOI: 10.1016/j.egypro.2017.12.383ISI: 000452901603050Scopus ID: 2-s2.0-85041536937OAI: oai:DiVA.org:mdh-42258DiVA, id: diva2:1274908
Conference
9th International Conference on Applied Energy (ICAE), AUG 21-24, 2017, Cardiff, ENGLAND
Available from: 2019-01-03 Created: 2019-01-03 Last updated: 2019-01-16Bibliographically approved

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Li, Hailong

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