Economics of Power Generation

The term economics of power generation refers to the art of determining the optimal cost of electrical power generation per unit (one kWh). In simple terms it is defined as the method of finding cost of production of electrical energy.

The economics of power generation is a key term in Electrical Power and Power Plant Engineering. Electrical power engineers are always concerned to find convenient methods to generate electric power. The power should be made as cheaply as possible so as to facilitate consumers.

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