loads who enter into pre-established peak-load-reduction agreements that reduce a utility's planned capacity obligations. Peak fit pricing is best used for products that are inelastic in supply, where suppliers are fully able to anticipate demand growth and thus be able to charge differently for service during systematic periods of time. A utility with regulated prices may develop a time-based pricing schedule on analysis of its long-run costs, such as operation and investment costs. A utility such as electricity (or another service), operating in a market environment, may be auctioned on a competitive market; time-based pricing will typically reflect price variations on the market. Such variations include both regular oscillations due to the demand patterns of users; supply issues (such as availability of intermittent natural resources like water flow or wind); and exceptional price peaks. Price peaks reflect strained conditions in the market (possibly augmented by market manipulation, as during the California electricity crisis), and convey a possible lack of investment. Extreme events include the default by Griddy after the 2021 Texas power crisis. Conversion-rate pricing Conversion rates measure how many browsers on a website turn into buyers. When conversion rates of viewers to buyers are low, dropping the price to increase conversions is standard with a dynamic pricing strategy. A good conversion rate means a good ROI. If your conversion rate decreases, the ROI will also decrease, and the cost of conversion will increase, which is when you need to change your marketing strategy. Controversy Some critics of dynamic pricing, also known as 'surge pricing', say it is a form of price gouging. Dynamic pricing is widely unpopular among consumers as some feel it tends to favour particular buyers. While the intent of surge pricing is generally driven by demand-supply dynamics, some instances have proven otherwise. Internet giants have suffered severe backlash for their dynamic pricing practices, including: Amazon.com Amazon.com engaged in price discrimination for some customers in the year 2000, showing different prices at the same time for the same item to different customers, potentially violating the Robinson–Patman Act. When this incident became public knowledge, Amazon issued an apology but did not cease the practice. During the COVID-19 pandemic, prices of certain items in high demand were reported to shoot up by quadruple their original price, garnering negative attention. Although Amazon denied claims of any such manipulation and blamed a few sellers for shooting up prices for essentials such