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Abstract:
Recently, household energy consumption has been highly increasing, although there is a decrease in the source of energy. Consequently, the base price of electricity has been rising. Thus, there are a variety of approaches to save electricity costs. One proposed approach is the User-in-the Loop (UIL) method, in which the consumers are given satisfactory incentives (for instance decreasing the base price of the electricity) to postpone their demand until low peak hours. To investigate the effectiveness of UIL, both control models are examined under three types of pricing. Additionally, we propose the dynamic pricing model, in which the base price of the electricity is updated every 5 minutes based on a feedback message received from users. As a result of this study, we found that there is an inverse relationship between the number of users and the efficiency of UIL with the dynamic pricing model.