Please use this identifier to cite or link to this item: http://hdl.handle.net/11718/24338
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dc.contributor.authorMitra, Krishnendranath
dc.contributor.authorDutta, Goutam
dc.date.accessioned2021-10-11T09:07:49Z
dc.date.available2021-10-11T09:07:49Z
dc.date.issued2021-03-21
dc.identifier.citationMitra, K., & Dutta, G. (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, 20(2), 162-184.en_US
dc.identifier.otherhttps://doi.org/10.1057/s41272-021-00298-y
dc.identifier.urihttp://hdl.handle.net/11718/24338
dc.description.abstractDynamic pricing with automation and option to sell in-house-generated renewable energy to the grid attract consumers to the future retail electricity market. Real-time pricing of electricity in the Indian context has not been relevant so far because the pricing in Indian urban retail electricity market is mostly restricted to block-rate pricing. This study describes a novel method for segmenting the retail electricity market in a university setup. The experiment was focused on differential pricing, and the data were collected from 173 respondents using a questionnaire. This study prescribes different criteria for classifying a consumer into the specified market segments using cluster analysis and discriminant analysis. The demand–price relationship and price elasticity are studied for each segment. Demand characteristics of four appliances are also discussed. The study found that in some cases, consumers’ willingness to pay is about five times higher than the present average price.en_US
dc.language.isoenen_US
dc.publisherPalgrave Macmillanen_US
dc.relation.ispartofJournal of Revenue and Pricing Managementen_US
dc.subjectPricing - retail electricityen_US
dc.subjectDemand-price relationshipen_US
dc.subjectRetail electricity marketen_US
dc.titleA novel method of market segmentation and market study for dynamic pricing of retail electricity in India: an experimental approach in a university setupen_US
dc.typeArticleen_US
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