IDEAS home Printed from https://ideas.repec.org/a/pal/jorapm/v17y2018i5d10.1057_s41272-018-00160-8.html
   My bibliography  Save this article

A fuzzy logic-based approach for pricing of electricity in Jordan

Author

Listed:
  • Ghada A. Altarawneh

    (Mutah University)

Abstract

This paper aims to provide a feasible and practical tool for decision makers in the energy and electricity sectors, represented by EMRC, in order to calculate a reasonable selling price for electricity in Jordan. We propose an alternative approach using a fuzzy logic technique to help EMRC assign a fair and dynamic sale price for electricity, based on two categories of electricity consumption (low and high). Our experimental results, based on simulated data, show that the proposed method provides fair prices to both customer and service providers, allowing an easy and effective way to increase/decrease electricity prices.

Suggested Citation

  • Ghada A. Altarawneh, 2018. "A fuzzy logic-based approach for pricing of electricity in Jordan," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 17(5), pages 365-372, October.
    • Handle: RePEc:pal:jorapm:v:17:y:2018:i:5:d:10.1057_s41272-018-00160-8
    DOI: 10.1057/s41272-018-00160-8
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/s41272-018-00160-8
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1057/s41272-018-00160-8?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. José M. Merigó & Montserrat Casanovas, 2011. "The Uncertain Generalized Owa Operator And Its Application To Financial Decision Making," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 10(02), pages 211-230.
    2. Mak, Juliet C. & Chapman, Bruce R., 1993. "A survey of current real-time pricing programs," The Electricity Journal, Elsevier, vol. 6(7), pages 76-77.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ghada A. Altarawneh & Ahmad B. Hassanat & Ahmad S. Tarawneh & David Carfì & Abdullah Almuhaimeed, 2022. "Fuzzy Win-Win: A Novel Approach to Quantify Win-Win Using Fuzzy Logic," Mathematics, MDPI, vol. 10(6), pages 1-17, March.
    2. Ghada Altarawneh, 2021. "A fuzzy logic-based approach for progressive pricing of freshwater in Jordan," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 20(4), pages 480-489, August.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Pingtao Yi & Qiankun Dong & Weiwei Li, 2021. "A family of IOWA operators with reliability measurement under interval-valued group decision-making environment," Group Decision and Negotiation, Springer, vol. 30(3), pages 483-505, June.
    2. Krishnendranath Mitra & Goutam Dutta, 2021. "A novel method of market segmentation and market study for dynamic pricing of retail electricity in India: an experimental approach in a university setup," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 20(2), pages 162-184, April.
    3. Carlos Llopis-Albert & José M. Merigó & Huchang Liao & Yejun Xu & Juan Grima-Olmedo & Carlos Grima-Olmedo, 2018. "Water Policies and Conflict Resolution of Public Participation Decision-Making Processes Using Prioritized Ordered Weighted Averaging (OWA) Operators," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 32(2), pages 497-510, January.
    4. Goutam Dutta & Krishnendranath Mitra, 2017. "A literature review on dynamic pricing of electricity," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 68(10), pages 1131-1145, October.
    5. Luis F. Espinoza-Audelo & Ernesto León-Castro & Marycruz Olazabal-Lugo & José M. Merigó & Anna M. Gil-Lafuente, 2020. "Using Ordered Weighted Average for Weighted Averages Inflation," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 19(02), pages 601-628, April.
    6. Ghada Altarawneh, 2021. "A fuzzy logic-based approach for progressive pricing of freshwater in Jordan," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 20(4), pages 480-489, August.
    7. Robert H. Patrick & Frank A. Wolak, 2001. "Estimating the Customer-Level Demand for Electricity Under Real-Time Market Prices," NBER Working Papers 8213, National Bureau of Economic Research, Inc.
    8. Deng-Feng Li & Shu-Ping Wan, 2017. "Minimum Weighted Minkowski Distance Power Models for Intuitionistic Fuzzy Madm with Incomplete Weight Information," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 16(05), pages 1387-1408, September.
    9. Thomas Taylor & Peter Schwarz, 2000. "Advance notice of real-time electricity prices," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 28(4), pages 478-488, December.
    10. Mitra, Krishnendranath & Dutta, Goutam, 2018. "Study of Retail Electricity Consumers’ Response and Perception Regarding Electricity Consumption," IIMA Working Papers WP 2018-10-02, Indian Institute of Management Ahmedabad, Research and Publication Department.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:jorapm:v:17:y:2018:i:5:d:10.1057_s41272-018-00160-8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.