And lastly, increasing the efficiency of electricity supply and demand could reduce carbon dioxide emissions by up to 10 percent.
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All these technologies are meant to help a utility better match its electricity supply with demand and avoid blackouts.
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In the area of renewable and distributed energy resources, which are prone to extreme variability, members can leverage predictive and optimization technologies, increasing the accuracy of their forecasts to balance the supply and demand of electricity and take measures that ensure system reliability.
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For ten years he's been trying to convince utilities and automakers that electric cars could draw power at night, when power is cheaper, and then discharge some of that juice back into the grid during the day to balance supply and demand for electricity.
Energy storage, such as using trailers of batteries, to store renewable electricity also will help utilities manage the supply and demand of solar and wind.
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Electricity is a commodity that is driven by supply and demand.
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That way, El Paso's customers--and its own trading desk--can better exploit short-term swings in supply and demand, just as they do every day in the gas and electricity markets.
"Given that world energy demand, and more particularly electricity demand, is increasing strongly, we need sources of electricity supply that are safe, affordable, with abundant fuel and are environmental benign, " he said.
India faces massive electricity shortages due to a mismatch between coal demand and supply, making it dependent on imports from Indonesia and other countries.
Because utilities and state regulators are putting a premium on solar energy when they evaluate and approve power purchase agreements even though solar electricity production typically fluctuates and makes it more difficult to balance the supply and demand in an electric grid.
Energy expert and occasional FORBES columnist Peter Huber has noted, "Pooling supply and demand nationwide will cut the average cost of generating electricity by 30% to 50%, " thereby making feasible green dreams of more electric vehicles.
By as early as next year our demand for electricity will exceed reliable supply in New England, Texas and the West and, by 2011, in New York and the mid-Atlantic region.
The demand for energy in the form of electricity and fuel is larger than its current supply in several parts of the world, particularly in developing countries.
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Add to this the widely predicted growth in demand for electricity likely to materialize in the same time period, and the stage seems set for supply shortages and a rise in uranium prices.
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