Using a large-scale pilot test on time-of-use (TOU) pricing for residential customers, this study analyzes the effects of TOU pricing on the load patterns of residential customers and on producer surplus in South Korea. We estimate the difference in the electricity demand functions of residential customers across peak, intermediate, and off-peak periods before and after TOU pricing. In addition, we assess the supply curve in the wholesale electricity market and calculate the changes in electricity purchase costs by integrating the supply curve over the range of consumption changes across the periods. This study simulates the effects of TOU pricing on producer surplus that would be obtained if all residential customers in South Korea switch from increasing block pricing to TOU pricing. Our results show that TOU pricing can be an effective measure for load transfer and simultaneously increase producer surplus. We find that although the revenue of electric utility generally decreases, the cost savings are greater and thus producer surplus increases. The results can be a valuable reference for the South Korean government regarding the nationwide expansion of TOU for residential electricity in the future.

中文翻译：

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韩国住宅用户分时定价的影响和批发市场后果

本研究通过对住宅用户分时 (TOU) 定价进行大规模试点，分析了分时定价对韩国住宅用户负荷模式和生产者剩余的影响。我们估算了分时电价前后居民用户高峰、中峰、淡季用电需求函数的差异。此外，我们评估批发电力市场的供给曲线，并通过对各时期用电变化范围内的供给曲线进行积分来计算购电成本的变化。本研究模拟了如果韩国所有住宅客户从增加的集体定价转向分时定价的话，分时定价对生产者剩余的影响。我们的结果表明，分时电价可以成为负荷转移的有效措施，同时增加生产者剩余。我们发现，尽管电力公司的收入普遍下降，但成本节省却更大，因此生产者剩余增加。研究结果可为韩国政府未来在全国范围内推广居民用电分时制提供有价值的参考。