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Time-differential (peak-load) pricing of electricity is an indirect form of load management that prices electricity according to differences in the cost of supply by time of day and season of year. In the light of the significance of time-differential tariffs reflecting temporal cost variations in electricity supply, the present study attempts at a marginalist approach to peak-load pricing, incorporating reliability considerations under various welfare-related assumptions, and supplemented with empirical substantiation, suitable for less developed power systems in the face of inaccessibility...

There has been an unfortunate tendency among most of the empirical econometricians to ignore model adequacy diagnostic checking, indispensably required to verify the empirical validity of the residual whiteness assumptions underlying the model. Most of these studies have also failed to account for possible non-stationarity in the data series and to benefit from an analytical framework for a meaningful long-run equilibrium and short-run causality in a cointegrating space of error correction. Again, these studies, by adopting a methodology suitable to a developed power system in advanced...