Exploring demand-side flexibility through electricity pricing mechanisms is a core pathway to reducing costs in low-carbon power systems. While existing studies have confirmed differences in the effectiveness of various pricing mechanisms, they lack systematic quantitative analysis, making it difficult to support the optimization of pricing strategies. This paper constructs a bi-level simulation framework based on a comprehensive dataset from Anhui Province, China, to conduct empirical analysis of the system-level benefits of typical pricing mechanisms including Real-Time Pricing (RTP) and Time-of-Use Pricing (TOU) in exploring demand-side flexibility. The key findings reveal that from 2025 to 2050, as renewable energy penetration grows, RTP’s average daily cost savings compared to TOU increase from 70,000 Chinese yuan (CNY) to 393,000 CNY, whereas TOU’s efficiency index declines from 43.62% to 29.02%. Notably, the efficiency gap between RTP and TOU remains insignificant at present; yet as renewable energy penetration further increases, this gap will become far more pronounced. In practical terms, this implies TOU can serve as a short-term transitional mechanism, while the power market should gradually shift toward RTP in the long run to adapt to the rising penetration of renewable energy and fully tap into demand-side flexibility. This study provides empirical support for improving electricity market pricing mechanisms to unlock user-side flexibility resources.
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