We develop a model of interruptible electric power service that includes early notification. Notification time is included through a multi-period model. The allocation of notifications is described as a stochastic control problem: whom to notify when. The general problem has great information requirements and an optimal allocation may not yield an incentive compatible price menu. Additional structure is imposed on customer outage costs and the evolution of uncertainty in the shortfall magnitude. Optimal priority orderings are sought. Optimality conditions and qualitative properties are derived. A numerical example illustrates the results.
Title
Priority Ordering in Interruptible Electric Power Service with Irreversible Early Notification
Published
1993-01-01
Full Collection Name
Electrical Engineering & Computer Sciences Technical Reports
Other Identifiers
ERL-93-18
Type
Text
Extent
24 p
Archive
The Engineering Library
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