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A Model for Pricing Interruptible Electric Power Service

  • Chin-Woo Tan
  • Pravin Varaiya
Part of the Progress in Systems and Control Theory book series (PSCT, volume 10)

Abstract

The current allocation of electric energy is based on a system of fixed prices. In such a system the gap between marginal cost of energy generation and the marginal value of energy consumption, hence the resulting inefficiency, is quite large [10]. One scheme that closes this gap is that of spot pricing, [11], [3], [2].

Keywords

Equilibrium Price Price System Allocation Rule Spot Price Optimal Contract 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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References

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Copyright information

© Springer Science+Business Media New York 1991

Authors and Affiliations

  • Chin-Woo Tan
    • 1
  • Pravin Varaiya
    • 1
  1. 1.Department of Electrical Engineering & Computer SciencesUniversity of CaliforniaBerkeleyUSA

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