Cost-Benefit Comparison of a Time-of-Use Tariff and Real-Time Pricing of Electricity Associated with Automated HVAC Load Management Strategies in Banks Across Mainland Portugal

Abstract

The gradual liberalization of the Portuguese energy market opens up new pathways in which further progress ondemand response programs canbe achieved. In lightof this, themainobjectiveof thispaper is toevaluatethe cost-benefitofintroducingaReal-Time-Pricing(RTP)rateover theprevailingTime-Of-Use(TOU)tariffstructurein26Normal LowVoltage(NLV)bankbranchesdispersedacrossMainland Portugal.Additionally, thefurther impactof theassociationof RTP with Automated RTP-Responsive HVAC Load Management Strategies (ALMS) on cost savings is also examined. This study grouped the bank branches in 8 bioclimaticzones, toassesstheinfluenceexertedbygeographic locationon these results.Analyseswereconductedusingreal granularelectricityusagedatafrom2015,whichwerecollected using an integrated power optimization software platform entitled Kiplo Smart Engine ​ . Simulations reveal that the introductionofRTPreflectsanannualelectricitycostreduction ofapproximately34%against theTOUtariff.Furthermore,the associationofRTPwiththeproposedALMSraisedtheannual electricity cost savings to up to 47%. In conclusion, it is expectedthat theuniquenatureofexplorationofthisstudywill foment discussions around the regulationofRTPprograms to NLV consumers in Mainland Portugal.