The　multistep　electricity　price　(MEP)　policy　has　been　introduced　by　many　countries　to　promote　energy　saving,　load　balancing,　and　fairness　in　electricity　consumption.　Nonetheless,　with　the　development　of　the　smart　grid,　how　to　determine　the　quantity　of　electricity　and　at　what　price　in　a　step-like　fashion　has　not　been　fully　investigated　in　the　past.　To　address　this　issue,　in　this　paper,　we　introduce　two　types　of　MEP　models:　a　one-dimensional　MEP　model　and　a　two-dimensional　MEP　model,　which　can　be　used　to　formally　analyze　and　determine　the　desirable　quantities　of　electricity　and　pricing　in　multiple　steps.　Particularly,　in　the　one-dimensional　MEP　model,　the　steps　are　scaled　only　by　the　quantity　of　electricity　whereas　in　the　two-dimensional　MEP　model,　the　steps　are　scaled　by　both　the　quantity　of　electricity　and　the　time　when　the　electricity　is　used.　Based　on　the　proposed　MEP　models,　we　further　investigate　the　vulnerability　of　the　electricity　market　operation　and　investigate　false　data　injection　attacks　against　electricity　prices　and　charges　to　consumers.　Through　an　extensive　simulation　study,　our　data　shows　that　the　proposed　MEP　models　can　achieve　fairness　in　electricity　consumption,　balance　loads　between　peak　and　non-peak　times,　and　improve　electricity　resource　utilization.　Our　data　also　indicates　that　false　data　injection　attacks　can　only　partially　compromise　prices　in　our　MEP　models,　leading　to　a　limited　impact　on　users＇　charges.