Optimal Price and Quantity Determination for Retail Electric Power Contracts
- 30 January 2006
- journal article
- Published by Institute of Electrical and Electronics Engineers (IEEE) in IEEE Transactions on Power Systems
- Vol. 21 (1), 180-187
- https://doi.org/10.1109/tpwrs.2005.860920
Abstract
Considering the viewpoint of a retailer, this paper analyzes the problem of setting up contracts on both the supplier and end-user sides to maximize profits while maintaining an acceptable level of settlement risk. The proposed stochastic optimization model can assist retailers with these efforts and guide them in their contractual arrangements. A realistic example illustrates the capabilities of the methodology proposed.Keywords
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