The top 3 variables that affect the supply of electricity are:

1) Availability of generation of resources: Coal, natural gas , and petroleum, as we all

know.Petroleum is actually the main source of energy production in the USA. Hence. Day by
day, these sources (fossil fuels) are getting scarce.Therefore, the availability of power will be
impacted by a lack of this source in this growing population.
2) Fuel costs
In this current century, equipment costs are increasing due to surplus industry demand. This
eventually results in an increase in the manufacturing cost. (Fuel prices mainly) Increasing these
cost of manufacturing impacts the availability of electricity.
3) Power plant availability
Electricity is still not accessible to each and every person in this present situation. Increased
equipment costs are contributing to a lack of supply of power plants. Therefore, with this
demographic increase, fewer power plants would contribute to less profits. Increased competition
could lead to power supply shortages.
The 2 main factors that influenced this perception are :
Increasing population growth
Reduction in availability of fossil fuels

What top three variables did you believe to affect the demand of electricity the most?

The three variables are Weather, geographical location. Market price, these variables are
dependent on each other. High temperatures will boost heating and cooling demand, and fuel and
energy costs can be driven up by the subsequent rises in electricity demand. For low-cost
hydropower generation, rain and snow supply water, and wind may provide low-cost electricity
generation when wind speeds are favorable. However, the lack of power supply from such
sources will place upward pressure on other energy / fuel supplies and costs when there are
droughts or competitive demand for water supplies or when wind speeds decline.

Does the existing body of literature support or contradict your initial assessment? Either
way, please describe.
The established source of literature acknowledges the need for energy and the essential balance
between electricity supply and demand. "high volume energy is essential to our quality of life,
our wellbeing, and our safety,". Even so, it is important for our growth as well. Less electricity,
any sector of the US industry will suffer. "The supply and demand for electricity will still exist
as our planet keeps growing technologically."

Which single variable (e.g., price) has the most impact on the intersection of supply and
demand?
Market forces would be the single variable which has the most effect. Market dynamics play a
crucial role not only in the price of electricity, as well as in the efficiency of the power grid in
North America (Excelsior College, n.d.). Electricity’s business power is determined by the
market. The partnership they establish provides information on the selling price, the quantity of
power created and the quantity consumed.
References:
Excelsior College. (n.d.). Module 1: module notes: bulk power. Retrieved from:
https://excelsior.instructure.com/courses/21195/pages/module-1-module-notes-bulk-power?
module_item_id=1785974
Richter, D. K. (2014). Weathering the storms with the lights on: Creating a reliable and resilient
21st century transmission grid. Real Estate Issues, 39(2), 34–43.  Retrieved from: https://eds-a-
ebscohost-com.vlib.excelsior.edu/eds/detail/detail?vid=1&sid=dc040b16-
69d5488fa083359619ca5fb8%40sessionmgr4008&bdata=JnNpdGU9ZWRzLWxpdmUmc2Nvc
GU9c2l0ZQ%3d%3d#AN=98663352&db=bth