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2 Increasing price levels decrease cost savings with peak-shaving under the constant and increasing load factor trends, but are almost unaffected under declining load factors. 3 With other things equal, cost savings with peak-shaving are bigger under lower fuel prices than under higher ones. 4 Cost savings resulting from a reduction in reserve margins with the use of peak-shaving account for a substantial portion of the total. 5 Under the basic assumption used in the study, the establishment ofdoi:10.1109/paiee.1914.6660830 fatcat:4qc5f5ijf5fptgq4f4sdawh6da