Sizing of electric thermal storage under real time pricing

Under real-time pricing (RTP) rates, electrical thermal storage (ETS) can be used to shift electricity consumption away from higher-price periods to lower-price periods. The issue of storage sizing under RTP rates is addressed by presenting the results of a simulation study. Parameters of the simulation, as well as building loads and prices used as inputs, are based on the results of an actual experiment on the RTP-based control of ETS carried out in the winter season of 1989-90. Results indicate that under RTP-based control, increase in storage sizes lowers a utilities´ cost of service, in contrast to time-of-use-based control for which the utility´s cost of service remains relatively unchanged