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OR Modelling for a Deregulated Electricity Sector
Author(s) -
Read E.G.
Publication year - 1996
Publication title -
international transactions in operational research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.032
H-Index - 52
eISSN - 1475-3995
pISSN - 0969-6016
DOI - 10.1111/j.1475-3995.1996.tb00041.x
Subject(s) - incentive , deregulation , electricity market , electricity , industrial organization , process (computing) , business , microeconomics , risk analysis (engineering) , economics , computer science , market economy , engineering , electrical engineering , operating system
OR's role in the New Zealand electricity sector has changed as the institutional structure has changed, and we might expect to find similar changes as the process of deregulation affects various sectors around the world. One result has been an increased demand for OR skills to perform familiar functions, such as cost minimization, as more decision‐makers become involved, and are given the incentives and the responsibility to optimize aspects which may have been ignored in the past. But there has also been a significant demand for OR to contribute to policy analyses, and to develop new approaches to facilitate the operation of the market in such a way as to give all parties incentives to optimize their own operations, and to provide those operating in the market with the tools they need to understand it, and to optimize their own interaction with it.