Title :
Time-of-use Price Decision Model of Natural Gas Based on Simulation and Grey Relationships
Author :
Ou, ChengQi ; Xie, Charlene ; Xu, Jingxia ; Liu, Feihong
Author_Institution :
Shenzhen Grad. Sch., City Planning & Manage., Harbin Inst. of Technol., Shenzhen, China
Abstract :
TOU price is an effective measure to achieve short-term balance of natural gas market, and a reasonable adjustment of natural gas price is the key to the implementation. Based on related research, some parameters are described through probability distribution, and use the price elasticity to reflect the customers´ response to TOU prices, then consider the uniformity of gas using, take Monte-Carlo simulation and Grey relationships as tools to give TOU pricing decision model of natural gas. This paper presents a case and verifies the validity of the model.
Keywords :
Monte Carlo methods; decision making; gas industry; gases; grey systems; pricing; statistical distributions; Monte Carlo simulation; grey relationship; natural gas; natural gas market; price decision model; price elasticity; probability distribution; time-of-use price; Monte-Carlo simulation; TOU price; grey relationships; natural gas; price elasticity;
Conference_Titel :
Information Management, Innovation Management and Industrial Engineering (ICIII), 2010 International Conference on
Conference_Location :
Kunming
Print_ISBN :
978-1-4244-8829-2
DOI :
10.1109/ICIII.2010.520
