info:oai:generic.eprints.org:48info:ofi/fmt:xml:xsd:oai_dc Optimising the relationship of electricity spot price to real-time input data Whiten, Bill Kaye, Marion Ratneesh, Suri Energy and utilities Finance Electrical power is paid for at a marginal price calculated by an optimisation to minimise the total cost of generation based on bids made by the power generation companies and consumer requirements. Generation companies are paid on the marginal rate (the level of the highest bid accepted) determined at their location. Similarly bulk power consumers are charged on the marginal price of supply at their location, which includes costs related to delivery to the user’s location. 2005 Study Group Report NonPeerReviewed application/pdf http://www.maths-in-industry.org/miis/48/1/electric_efs.pdf application/pdf http://www.maths-in-industry.org/miis/48/2/electric_rpt.pdf Whiten, Bill and Kaye, Marion and Ratneesh, Suri (2005) Optimising the relationship of electricity spot price to real-time input data. [Study Group Report] http://www.maths-in-industry.org/miis/48/