18 Questions
What type of pricing scheme charges the same rate for all usage during a given period of time?
Flat Rates
Which pricing scheme typically charges different prices based on blocks of usage?
Tiered Rates
In Time-of-Use pricing, when are lower prices typically offered to consumers?
Weekdays before 4 p.m. and after 9 p.m.
What term refers to the granularity or precision of electricity usage data recorded by the customer's meter?
Meter Granularity
Which type of pricing scheme allows consumers to adjust their electricity usage based on changing prices?
Real-time Pricing
What do Time-based rate programs refer to in the context of electricity pricing?
Varying prices over time with different rates at different hours
What is the main characteristic of Time-of-Use pricing (TOU)?
Has predetermined and constant pricing over broad blocks of hours.
Real-time pricing (RTP) generally applies to which type of electricity usage?
Usage on an hourly basis.
What distinguishes Variable Peak Pricing (VPP) from other pricing schemes?
It uses a hybrid model of time-of-use and real-time pricing.
When does Critical Peak Pricing (CPP) lead to substantially raised electricity prices?
During specified critical event time periods.
What allows utilities using smart meters to introduce new types of pricing programs?
Recording electricity usage more frequently.
How does Variable Peak Pricing (VPP) differ from Real-time Pricing (RTP)?
RTP applies pricing rates on an hourly basis.
What is Critical Peak Pricing (CPP) primarily applicable to?
Business customers with electric demand over 20 kW
Which type of pricing program does NOT fall under the category of dynamic pricing?
Time-of-Use (TOU)
In Critical Peak Rebates (CPR), what happens to the price of electricity during critical events?
It remains the same
Which pricing scheme allows for variation in the time and duration of price increases based on electric grid needs?
Critical Peak Pricing (CPP)
What distinguishes TOU tariffs from other pricing programs?
Prices are fixed and known ahead of time
Whose consumption is considered in determining if a customer qualifies for Critical Peak Pricing (CPP)?
Expected consumption based on utility estimates
Test your knowledge on real-time pricing for electricity consumption, which allows consumers to adjust their usage based on fluctuating electricity prices. Learn about rate plans like Time-of-Use (Peak Pricing 4 - 9 p.m. Weekdays) and how they offer lower prices during specific periods of the day.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
