Dynamic pricing slashes peak energy use and boosts profits in Singapore.
The article discusses how dynamic pricing strategies can help manage electricity demand in smart grids. By using game theory, researchers tested different pricing models in Singapore. They found that Real-Time Pricing (RTP) was the most effective, reducing peak loads by 10% for residential areas and 5% for commercial areas. This led to increased profits of 15.5% and 18.7% for each sector, while still ensuring a realistic energy load reduction.