Engineering
8 years ago

New study revolutionizes electricity pricing to handle demand and supply uncertainty!

The Bell Journal of Economics
Peak Load Pricing and Capacity Planning with Demand and Supply Uncertainty
Hung‐po Chao

Paper Summary

The article explores how to set prices and plan capacity for electricity during peak demand times when both demand and supply are uncertain. It looks at different ways to model uncertain demand and considers the random availability of capacity. The researchers found new insights that can help improve how electricity is priced and managed during peak times.

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