MWh MWh MWh 200 150 120 100 90 80 60 60 50 40 30 20 Time 1 2 3 Time 4 1 2 (a) 3 4 Time 1 (b) 2 3 4 (c) Three Firms: Firm 1 Sells 300 MWh Firm 2 Sells 200 MWh Firm 3 Sells 500 MWh Total Amount Sold by Three Firms = 1,000 Mwh figure 2. The hourly forward contract quantities for three suppliers. The forward contract obligation per period for (a) Firm 1, (b) Firm 2, and (c) Firm 3. MWh MWh MWh MWh 160 120 90 80 10 1 20 2 3 (a) 40 30 4 1 2 40 30 20 Time 80 60 60 40 120 3 (b) Time 4 1 2 3 (c) 4 Time 1 2 3 (d) 4 Time Four Retailers: Retailer 1 Holds 100 MWh Retailer 2 Holds 200 MWh Retailer 3 Holds 300 MWh Retailer 4 Holds 400 MWh Total Amount Held by Four Retailers = 1,000 MWh figure 3. The hourly forward contract quantities for four retailers. The forward contract obligation per period for (a) Retailer 1, (b) Retailer 2, (c) Retailer 3, and (d) Retailer 4. january/february 2021 ieee power & energy magazine 35