This paper proposes a novel dynamic pricing scheme for demand response with individualized tariffs by consumption profile, aiming to benefit both customers and utility. The proposed method is based on the genetic algorithm, and a novel operator called mutagenic agent is proposed to improve algorithm performance. The demand response model is set by using price elasticity theory, and simulations are conducted based on elasticity, demand, and photovoltaic generation data from Brazil. Results are evaluated considering the integration effects of renewable energy sources and compared with other two pricing strategies currently adopted by Brazilian utilities: flat tariff and time-of-use tariff. Simulation results show the proposed dynamic tariff brings benefits to both utilities and consumers. It reduces the peak load and average cost of electricity and increases utility profit and load factor without the undesirable rebound effect.