Power allocation among socio-economic sectors with overlapping demands during power shortage: A bankruptcy approach

Power supply is one of the main backbones of sustainable socio-economic development. In developing countries with rapidly growing economies one of the main problem and obstacle for economic development is shortage of power supply. This makes it a contested resource among different socio-economic sectors. Therefore, distribution of power to different socio-economic sectors with overlapping power demands during power shortage requires careful and strategic decision making in order to maximize the socio-economic benefit that can be obtained out of limited power supply while maintaining equitable distribution. This research article proposed approaching power supply allocation problem during power shortage as game theoretic bankruptcy problem. Then the allocation of power during power scarcity among different socio-economic sectors using the classical bankruptcy allocation techniques was proposed. Each sector is characterized by its power demand. Such an approach could help make power allocation decisions which maximizes the socio-economic benefits from limited power supply by distributing it in a way that can be a base for efficient, reasonable and fair power supply management schemes during periods of power shortage.