This paper proposes a long-term electricity market analysis framework to assess the impacts of the demand response and smart metering infrastructure implementation on market price fluctuations and system reliability. Based on the probabilistic production cost simulation method that has been...

Assessing the impacts of dynamic-pricing under the smart grid concept is becoming extremely important for deciding its full deployment. In this paper, we develop a model that represents the response of consumers to dynamic pricing. In the model, consumers use forecasted day-ahead prices to shift...