A Win-Win Mechanism for Electricity Procurement by a Local Distribution Company

C. K. Woo; Ira Horowitz; Gabe Kwok; Shui Ki Wan; Weiwei Weng

doi:10.1016/j.tej.2012.11.017

A Win-Win Mechanism for Electricity Procurement by a Local Distribution Company

C. K. Woo^*, Ira Horowitz, Gabe Kwok, Shui Ki Wan, Weiwei Weng

^*Corresponding author for this work

Research output: Contribution to journal › Journal article › peer-review

Abstract

A time-of-use rate option design allowing an LDC's customers to allocate their consumption to be billed at the fixed and daily-varying TOU rates offers a win-win mechanism for electricity procurement in the face of uncertain spot prices and hedging options. Even if all customers have the same risk preferences, the proposed mechanism is Pareto-superior to the tariffs and procurement strategies commonly used in North America.

Original language	English
Pages (from-to)	27-35
Number of pages	9
Journal	Electricity Journal
Volume	26
Issue number	1
DOIs	https://doi.org/10.1016/j.tej.2012.11.017
Publication status	Published - Jan 2013

Scopus Subject Areas

Business and International Management
Energy (miscellaneous)
Management of Technology and Innovation

Access to Document

10.1016/j.tej.2012.11.017

Cite this

@article{d589b7cb0d264eff9b3332cf3a4b5f3b,

title = "A Win-Win Mechanism for Electricity Procurement by a Local Distribution Company",

abstract = "A time-of-use rate option design allowing an LDC's customers to allocate their consumption to be billed at the fixed and daily-varying TOU rates offers a win-win mechanism for electricity procurement in the face of uncertain spot prices and hedging options. Even if all customers have the same risk preferences, the proposed mechanism is Pareto-superior to the tariffs and procurement strategies commonly used in North America.",

author = "Woo, {C. K.} and Ira Horowitz and Gabe Kwok and Wan, {Shui Ki} and Weiwei Weng",

year = "2013",

month = jan,

doi = "10.1016/j.tej.2012.11.017",

language = "English",

volume = "26",

pages = "27--35",

journal = "Electricity Journal",

issn = "1040-6190",

publisher = "Elsevier Inc.",

number = "1",

}

TY - JOUR

T1 - A Win-Win Mechanism for Electricity Procurement by a Local Distribution Company

AU - Woo, C. K.

AU - Horowitz, Ira

AU - Kwok, Gabe

AU - Wan, Shui Ki

AU - Weng, Weiwei

PY - 2013/1

Y1 - 2013/1

N2 - A time-of-use rate option design allowing an LDC's customers to allocate their consumption to be billed at the fixed and daily-varying TOU rates offers a win-win mechanism for electricity procurement in the face of uncertain spot prices and hedging options. Even if all customers have the same risk preferences, the proposed mechanism is Pareto-superior to the tariffs and procurement strategies commonly used in North America.

AB - A time-of-use rate option design allowing an LDC's customers to allocate their consumption to be billed at the fixed and daily-varying TOU rates offers a win-win mechanism for electricity procurement in the face of uncertain spot prices and hedging options. Even if all customers have the same risk preferences, the proposed mechanism is Pareto-superior to the tariffs and procurement strategies commonly used in North America.

UR - http://www.scopus.com/inward/record.url?scp=84873092804&partnerID=8YFLogxK

U2 - 10.1016/j.tej.2012.11.017

DO - 10.1016/j.tej.2012.11.017

M3 - Journal article

AN - SCOPUS:84873092804

SN - 1040-6190

VL - 26

SP - 27

EP - 35

JO - Electricity Journal

JF - Electricity Journal

IS - 1

ER -

A Win-Win Mechanism for Electricity Procurement by a Local Distribution Company

Abstract

Scopus Subject Areas

Access to Document

Other files and links

Fingerprint

Cite this