Nowadays, the need to secure energy supply is a necessary component of everyday living, it greatly depends upon the existing energy production processes and it is clearly attached to the necessities dictated by the human needs and lifestyle. Crucial factor for the improvement of living and the ameliorating of the societal cultural status is closely related to the uninterrupted power supply within a rational pricing framework. Ensuring, on the one hand, energy efficiency and independence of the European member states, and on the other hand the continuous supply of energy at reasonable price levels by applying socially acceptable pricing and environmentally friendly frameworks, is the main focal point of the European energy strategy. In literature, the investigation of alternative sustainable pricing policies, emphasizing on the social aspects, have been approached myopically. Therefore, in this paper we employ the System Dynamics Theory to explore alternative sustainable pricing policies for the electricity sector. We firstly propose a first-effort methodological approach for the development of dynamic models for the strategic decision-making upon pricing policies emanating from the subsystems of the economy, the environment and the society and after that discuss a control mechanism which describes the causal links among these subsystems.