A continuous, distribution approach for production costing

In this paper, a new approach to approximate the equivalent load duration curve (ELDC) and evaluate the production cost by using a multi-parameter distribution is presented. The parameters of this distribution can be determined from the hourly load and generating unit data. A new more efficient algorithm for determining the parameters is also introduced. The results obtained from the proposed Gram-Charlier and the recursive method are reported for several cases to compare the efficiency and accuracy.<
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