Demand response programmes reduce peak-load consumption and could increase off-peak demand as a load-shifting effect often exists. In this research we use a three-stage game to assess the effectiveness of dynamic pricing regarding load-shifting and its economic consequences. We consider a retailer's strategic supplies on forward or real time markets, when demand is uncertain and with consumer disutility incurred from load-shedding or load-shifting. Our main results show that a retailer could internalize part of demand uncertainty by using both markets. A retailer raises the quantities committed to the forward market if energy prices or balancing costs are high. If the consumer suffers disutility, then the retailer contracts larger volumes on the forward market for peak periods and less off peak, due to a lower load-shifting effect and lower off-peak energy prices.

需求响应程序可以减少峰值负载消耗，并且由于经常存在负载转移效应，因此可以增加非高峰需求。在这项研究中，我们使用一个三阶段博弈来评估关于负荷转移及其经济后果的动态定价的有效性。当需求不确定且因甩负荷或负荷转移而导致消费者无用时，我们考虑零售商在远期或实时市场上的战略供应。我们的主要结果表明，零售商可以通过同时使用两个市场来内化部分需求不确定性。如果能源价格或平衡成本较高，零售商将增加对远期市场的承诺量。如果消费者遭受了无用功，那么零售商会在高峰期与远期市场签订较大量的合约，而非高峰期则减少​​合约的数量，