A Game Model of Time-of-Use Electricity Pricing and its Simulation

As a fulcrum in the power market, electricity price affects the reliability and security of the power system indirectly. The time-of-use (TOU) pricing is one of the important ways to safeguard the stability of the power system. The TOU pricing must consider the stakeholders of the government, the power company, and the consumer. With the prerequisite of price-fixing level by the government, the power company is allowed to adjust the power price to realize the goal of power load control. Based on this, a TOU pricing model - price-fixing by the government, pricing by the power company, and electricity-consumption by the consumer - is established with game theory. The model simulation is carried out with the Matlab software, the result of which indicates that the model is practicable for the power load control.