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Mr McLoughlin added that he hoped that delays in other franchise competitions – due to in the next few months – would not be too severe and refused to speculate over the final cost of the problems to the taxpayer.
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Because these contracts were made when energy prices were high, the cost of the solution could end up being just as great as the cost of the problem.
"Information overload is a terrible scourge of modern society," said Jonathan Spira, author of Overload, a book that examines the cost of the problem to businesses.
The result is learning algorithms for which the cost of learned rules is bounded by the cost of the problem solving that they replace.
So far, bank write-downs total more than $600 billion, but some estimates see the ultimate cost of the problem at closer to $1.5 trillion.
Many corporations are reluctant to disclose the full impact and cost of the problem to their shareholders because they fear legal action.
The research put the cost of the problem in the Edinburgh City Council area at £156m a year, with the impact in Fife said to be slightly higher at £158m.
To reduce the computational cost of the problem, we chose a representative set of initial conditions for simulation in practice.
They also gave a method to reduce the computational cost of the problem by using an approximation technique [ 12].
They describe the cost of the problem, but don't explain how this cost was found.
Another option is to offer a lower purchase price based on the cost of correcting the problems.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com