A Stochastic-Based Decision-Making Framework for an Electricity Retailer: Time-of-Use Pricing and Electricity Portfolio Optimization

@article{Hatami2011ASD,
  title={A Stochastic-Based Decision-Making Framework for an Electricity Retailer: Time-of-Use Pricing and Electricity Portfolio Optimization},
  author={Alireza Hatami and Hossein Seifi and M. K. Sheikh-el-Eslami},
  journal={IEEE Transactions on Power Systems},
  year={2011},
  volume={26},
  pages={1808-1816}
}
This paper proposes a decision-making framework, based on stochastic programming, for a retailer: 1) to determine the sale price of electricity to the customers based on time-of-use (TOU) rates, and 2) to manage a portfolio of different contracts in order to procure its demand and to hedge against risks, within a medium-term period. Supply sources include the pool, self-production facilities and several instruments such as forward contracts, call options, and interruptible contracts. The… CONTINUE READING
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