Nomenclature
The following terminology is used in this book:
Symbol | Name | Units | Meaning |
Rate of production or consumption | units/time interval, kW, or MW | Rate of production of output by producer i or rate of consumption by consumer i | |
Cost function | $/time interval | Rate at which costs are incurred by producer i when producing at the rate (units/time interval) | |
Marginal cost function | $/unit, $/kWh or $/MWh | Rate at which costs increase with an increase in the rate of production | |
Profit function | $/time interval | Rate at which profits are received by producer i when producing at the rate (units/time interval) | |
Utility function | $/time interval | Rate at which utility is received when consuming at rate (units/time interval) | |
Net utility function | $/time interval | Rate at which net ... |
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