A new model of incremental decision making for resource acquisition by electric utilities

Journal Article · Mon Mar 01 04:00:00 EST 1993 · Simulation; (United States)

DOI:https://doi.org/10.1177/003754979306000308· OSTI ID:6476752

Hirst, E; Yourstone, E; Gettings, M ^[1]

---

1. Oak Ridge National Lab., TN (United States)

Electric utilities have developed and applied several new ways to address the uncertainties they face in resource planning. In these methods, however, all the resource-acquisition decision (e.g., construction of power plants and operation of energy-efficient programs) are made at the beginning of the simulation. This paper describes a new model that explicitly deals with the frequent incremental nature of utility decision making. This model requires users to interact with model results and forecasts after every year or two of simulation. At that time, the user can initiate new resource acquisitions or modify past decisions (e.g., slow down construction of a power plant or change the marketing budget for an energy-efficiency program).

• OSTI ID: 6476752
• Journal Information: Simulation; (United States), Journal Name: Simulation; (United States) Vol. 60:3; ISSN SIMUA2; ISSN 0037-5497
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
296000* -- Energy Planning & Policy-- Electric Power
COMPUTER CODES
COMPUTERIZED SIMULATION
CONSTRUCTION
D CODES
DECISION MAKING
ECONOMICS
ELECTRIC POWER
ELECTRIC UTILITIES
LOAD ANALYSIS
MARKET
MATHEMATICAL MODELS
PLANNING
POWER
PUBLIC UTILITIES
SIMULATION