A comparison of system response for different types of real time pricing

Real time pricing (RTP) can be implemented in forms that differ in various respects. The differences include considerations such as tariff update periodicity, the time ahead that tariffs are declared to consumers and whether consumers pay different prices depending on their location of whether everyone faces a common tariff. When changes occur in system operation invoking the need for price changes the system demand response pattern will be different for different types of RTP. The authors provide simulation examples of such response differences for different types of RTP