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Optimal price and quantity determination for retail electric power contracts

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4 Author(s)
Gabriel, S.A. ; Dept. of Civil & Environ. Eng., Univ. of Maryland, College Park, MD, USA ; Conejo, A.J. ; Plazas, M.A. ; Balakrishnan, S.

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.

Published in:

Power Systems, IEEE Transactions on  (Volume:21 ,  Issue: 1 )

Date of Publication:

Feb. 2006

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