Real-Time Pricing for Electricity Consumption Quiz
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Questions and Answers

What type of pricing scheme charges the same rate for all usage during a given period of time?

  • Flat Rates (correct)
  • Tiered Rates
  • Real-time Pricing
  • Time-based Rates
  • Which pricing scheme typically charges different prices based on blocks of usage?

  • Flat Rates
  • Time-based Rates
  • Tiered Rates (correct)
  • Real-time Pricing
  • In Time-of-Use pricing, when are lower prices typically offered to consumers?

  • Weekdays between 4 p.m. and 9 p.m.
  • Weekdays before 4 p.m. and after 9 p.m. (correct)
  • Weekends before 4 p.m. and after 9 p.m.
  • Weekends between 4 p.m. and 9 p.m.
  • What term refers to the granularity or precision of electricity usage data recorded by the customer's meter?

    <p>Meter Granularity</p> Signup and view all the answers

    Which type of pricing scheme allows consumers to adjust their electricity usage based on changing prices?

    <p>Real-time Pricing</p> Signup and view all the answers

    What do Time-based rate programs refer to in the context of electricity pricing?

    <p>Varying prices over time with different rates at different hours</p> Signup and view all the answers

    What is the main characteristic of Time-of-Use pricing (TOU)?

    <p>Has predetermined and constant pricing over broad blocks of hours.</p> Signup and view all the answers

    Real-time pricing (RTP) generally applies to which type of electricity usage?

    <p>Usage on an hourly basis.</p> Signup and view all the answers

    What distinguishes Variable Peak Pricing (VPP) from other pricing schemes?

    <p>It uses a hybrid model of time-of-use and real-time pricing.</p> Signup and view all the answers

    When does Critical Peak Pricing (CPP) lead to substantially raised electricity prices?

    <p>During specified critical event time periods.</p> Signup and view all the answers

    What allows utilities using smart meters to introduce new types of pricing programs?

    <p>Recording electricity usage more frequently.</p> Signup and view all the answers

    How does Variable Peak Pricing (VPP) differ from Real-time Pricing (RTP)?

    <p>RTP applies pricing rates on an hourly basis.</p> Signup and view all the answers

    What is Critical Peak Pricing (CPP) primarily applicable to?

    <p>Business customers with electric demand over 20 kW</p> Signup and view all the answers

    Which type of pricing program does NOT fall under the category of dynamic pricing?

    <p>Time-of-Use (TOU)</p> Signup and view all the answers

    In Critical Peak Rebates (CPR), what happens to the price of electricity during critical events?

    <p>It remains the same</p> Signup and view all the answers

    Which pricing scheme allows for variation in the time and duration of price increases based on electric grid needs?

    <p>Critical Peak Pricing (CPP)</p> Signup and view all the answers

    What distinguishes TOU tariffs from other pricing programs?

    <p>Prices are fixed and known ahead of time</p> Signup and view all the answers

    Whose consumption is considered in determining if a customer qualifies for Critical Peak Pricing (CPP)?

    <p>Expected consumption based on utility estimates</p> Signup and view all the answers

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