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

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10.1016/j.tej.2012.11.017

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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.",

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AU - Wan, Shui Ki

AU - Weng, Weiwei

PY - 2013/1

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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 - https://www.scopus.com/pages/publications/84873092804

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DO - 10.1016/j.tej.2012.11.017

M3 - Journal article

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JO - Electricity Journal

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

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