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In particular, the paper analyses the optimal configuration of built environment area, PV area, wind turbines number and relative occupation area, battery and water harvester storage capacities, as a function of electricity and water prices.
"For companies like Facebook and Google, the P&L is a function of electricity cost," Gopi said.
The cost of renewable power plant is function of electricity generated from renewable sources.
Thus, our model explicitly considers that the electricity demand which is function of electricity prices is known by power plants with a level of uncertainty.
Furthermore, the electricity usage of curtailable appliance (c in C_{k}) of each customer (k in {mathcal{K}}) at each hour (h in {mathcal{H}}_{k,c}) is modelled as a linear function of electricity price: (f_{k,c} left( {p_{h} } right) = a_{k,c} p_{h} + b_{k,c}).
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The organisation and functioning of electricity supply have changed dramatically since the liberalisation agreements among the Member States and the European Union's (EU) enactment of the liberalisation directives in the 1990s.
After all, anyone who travels internationally knows that there are dozens of plug designs that accomplish the same basic function: delivery of electricity to a power cord.
The cost of a thermal power plant is a function of the electricity generated from the non-renewable sources.
Normally, supply function of wholesale electricity should be derived from the generator's profit maximization condition that marginal generation cost equals to the wholesale price.
However, to focus on the retail market analysis, we do not explicitly solve the generator's problem but directly assume that the supply function of wholesale electricity is increasing function of wholesale price and expressed by (S(p^{w}_{t})).
In every hour h, assume that the normal PDF function of the electricity price has five states (s) with an average load factor of μ = 0.8 and standard deviation of σ = 0.1, as shown in Table 2 [21, 34, 39].
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