diff --git a/dcaf/project/_builder_config.py b/dcaf/project/_builder_config.py
index dc367db..2accd08 100644
--- a/dcaf/project/_builder_config.py
+++ b/dcaf/project/_builder_config.py
@@ -395,16 +395,22 @@ def __post_init__(self) -> None:
 
 @dataclass(frozen=True)
 class RevenueConfig:
-    """Whole-project generation revenue configuration."""
+    """Whole-project revenue configuration with scalar or explicit policy pricing."""
 
-    price: GenerationPrice
+    price: float | GenerationPrice
     label: str = "Revenue"
     pro_forma_category: ProFormaCategory | str | None = ProFormaCategory.REVENUE
     tax_treatment: TaxTreatment | str = TaxTreatment.TAXABLE
 
     def __post_init__(self) -> None:
         if not isinstance(self.price, GenerationPrice):
-            raise TypeError("generation_revenue price must be a GenerationPrice")
+            if not isinstance(self.price, int | float) or isinstance(self.price, bool):
+                raise TypeError(
+                    "generation_revenue price must be a finite scalar or GenerationPrice"
+                )
+            price = float(self.price)
+            validate_finite(price, "generation_revenue price")
+            object.__setattr__(self, "price", price)
         category, treatment = normalize_cashflow_classification(
             self.pro_forma_category,
             self.tax_treatment,
diff --git a/dcaf/project/_compiler.py b/dcaf/project/_compiler.py
index 583251b..6f010d9 100644
--- a/dcaf/project/_compiler.py
+++ b/dcaf/project/_compiler.py
@@ -235,7 +235,7 @@ def compile(self) -> ProjectAnalysis:
             component_streams.add_named(
                 "construction_outage",
                 outage_name,
-                self.build_construction_outage(outage_config),
+                self.build_construction_outage(outage_config, generation),
             )
 
         itc_stream = self.build_itc(construction_stream)
@@ -503,21 +503,34 @@ def build_generation_outages(self) -> GenerationStream:
     def build_construction_outage(
         self,
         outage: ConstructionOutageConfig,
+        generation: GenerationStream,
     ) -> CashFlowStream:
         """Build operating-cost cashflows for a construction outage on baseline generation."""
         if outage.sell_price_per_unit is None:
             # TODO: Support schedule and callable prices after defining how an outage's
             # aggregate booking event should be priced.
             market = self.config.market
-            if market is None or market.price.mode != "fixed" or market.price.fixed_price is None:
+            if market is None or (
+                isinstance(market.price, GenerationPrice)
+                and (market.price.mode != "fixed" or market.price.fixed_price is None)
+            ):
                 raise ValueError(
                     f"construction_outage {outage.name!r} requires sell_price_per_unit "
-                    "unless generation_revenue is configured with a fixed price; "
+                    "unless generation_revenue is configured with price or a fixed "
+                    "price_policy; "
                     "scheduled and callable generation_revenue prices are not supported "
                     "for construction outages"
                 )
-            price_per_mwh = market.price.fixed_price
-            escalation = EscalationSettings(explicit=True)
+            if isinstance(market.price, GenerationPrice):
+                assert market.price.fixed_price is not None
+                price_per_mwh = market.price.fixed_price
+                escalation = EscalationSettings(explicit=True)
+            else:
+                price_per_mwh = market.price
+                escalation = EscalationSettings(
+                    policy=self._generation_revenue_price_escalation(generation),
+                    explicit=True,
+                )
         else:
             price_per_mwh = outage.sell_price_per_unit
             escalation = self.context.effective_escalation(outage.escalation)
@@ -555,22 +568,47 @@ def build_revenue(
         market = self.config.market
         if market is None:
             return CashFlowStream()
-        self._validate_price_schedule_alignment(
-            name="revenue",
-            price=market.price,
-            generation=generation,
-        )
+        if isinstance(market.price, GenerationPrice):
+            self._validate_price_schedule_alignment(
+                name="revenue",
+                price=market.price,
+                generation=generation,
+            )
         if not generation.entries:
             return CashFlowStream()
+        price_escalation: EscalationPolicy | None = None
+        if isinstance(market.price, float):
+            price_escalation = self._generation_revenue_price_escalation(generation)
         return self._revenue_cashflows_from_generation(
             name="revenue",
             generation=generation,
             price=market.price,
+            price_escalation=price_escalation,
             label=market.label,
             pro_forma_category=market.pro_forma_category,
             tax_treatment=market.tax_treatment,
         )
 
+    def _generation_revenue_price_escalation(
+        self,
+        generation: GenerationStream,
+    ) -> EscalationPolicy | None:
+        """Resolve the shared scalar-price escalation for revenue and outage fallback."""
+        escalation = self.config.default_escalation
+        if escalation.policy is not None:
+            return escalation.policy
+        reference_date = escalation.amount_reference_date
+        if reference_date is None:
+            if not generation.entries:
+                return None
+            reference_date = min(entry.date for entry in generation.entries)
+        return ConstantRateEscalation(
+            reference_date=reference_date,
+            rate=escalation.escalation,
+            period=escalation.escalation_period,
+            day_count_convention=self.config.day_count_convention,
+        )
+
     def build_revenue_basis(self, generation: GenerationStream) -> CashFlowStream:
         """Build the unit-price basis for whole-project levelized cost."""
         if not generation.entries or self.config.market is None:
@@ -850,7 +888,8 @@ def _revenue_cashflows_from_generation(
         *,
         name: str,
         generation: GenerationStream,
-        price: GenerationPrice,
+        price: float | GenerationPrice,
+        price_escalation: EscalationPolicy | None,
         label: str,
         pro_forma_category: ProFormaCategory | str | None,
         tax_treatment: TaxTreatment | str,
@@ -867,9 +906,13 @@ def _revenue_cashflows_from_generation(
                 requested_mwh=entry.amount_mwh,
                 delivered_mwh=entry.amount_mwh,
             )
+            escalation_factor = (
+                1.0 if price_escalation is None else price_escalation.factor(entry.date)
+            )
+            resolved_price = price.resolve(event) if isinstance(price, GenerationPrice) else price
             entries.append(
                 CashFlow(
-                    amount=event.delivered_mwh * price.resolve(event),
+                    amount=event.delivered_mwh * resolved_price * escalation_factor,
                     date=entry.date,
                     label=label,
                     is_cash=True,
diff --git a/dcaf/project/builder.py b/dcaf/project/builder.py
index a80ff5b..2ede775 100644
--- a/dcaf/project/builder.py
+++ b/dcaf/project/builder.py
@@ -60,15 +60,6 @@
 )
 
 
-def _coerce_generation_price(price: GenerationPrice | float, *, field_name: str) -> GenerationPrice:
-    """Normalize a scalar fixed price or explicit generation price policy."""
-    if isinstance(price, GenerationPrice):
-        return price
-    if isinstance(price, int | float) and not isinstance(price, bool):
-        return GenerationPrice.fixed(float(price))
-    raise TypeError(f"{field_name} must be a GenerationPrice or float")
-
-
 class EnergyProject:
     """Immutable fluent builder for composing and analyzing energy project cash flows.
 
@@ -468,9 +459,11 @@ def construction_outage(
         timing : TimingConvention, optional
             Booking-date convention for generated cashflows.
         sell_price_per_unit : float, optional
-            Explicit outage price per MWh. When omitted, a fixed price
-            configured with :meth:`generation_revenue` is used. Scheduled and
-            callable generation-revenue prices require an explicit outage price.
+            Explicit outage price per MWh. When omitted, a scalar ``price``
+            configured with :meth:`generation_revenue` is used with the same
+            project-default escalation, or a fixed ``price_policy`` is used
+            without escalation. Scheduled and callable generation-revenue
+            policies require an explicit outage price.
         fixed_cost : float, optional
             Additional one-time outage cost. Sign is ignored.
         cost_per_day : float, optional
@@ -521,7 +514,8 @@ def construction_outage(
     def generation_revenue(
         self,
         *,
-        price: GenerationPrice | float,
+        price: float | None = None,
+        price_policy: GenerationPrice | None = None,
         label: str | None = None,
         pro_forma_category: ProFormaCategory | str | None = ProFormaCategory.REVENUE,
         tax_treatment: TaxTreatment | str = TaxTreatment.TAXABLE,
@@ -530,12 +524,17 @@ def generation_revenue(
 
         Parameters
         ----------
-        price : float or GenerationPrice
-            Per-MWh settlement price for each generation event. A float is
-            treated as a fixed price via :meth:`GenerationPrice.fixed`; pass
-            ``GenerationPrice`` directly for scheduled or callable prices. A
-            scheduled price must contain an entry whose date exactly matches
-            every generation event; schedule entries are not carried forward.
+        price : float, optional
+            Base per-MWh settlement price for each generation event. The price
+            inherits the project-wide rate configured by
+            :meth:`default_escalation`. When that default has no
+            ``amount_reference_date``, the earliest generation event is the
+            reference date. Mutually exclusive with ``price_policy``.
+        price_policy : GenerationPrice, optional
+            Complete settlement-price policy that does not inherit the project
+            default escalation. A scheduled policy must contain an entry whose
+            date exactly matches every generation event; schedule entries are
+            not carried forward. Mutually exclusive with ``price``.
         label : str, optional
             Label applied to every generated revenue cashflow. Default is
             ``"Revenue"``.
@@ -548,7 +547,23 @@ def generation_revenue(
         -------
         EnergyProject
             New project with updated revenue configuration.
+
+        Raises
+        ------
+        TypeError
+            If ``price`` is not a scalar or ``price_policy`` is not a
+            ``GenerationPrice``.
+        ValueError
+            If neither or both price arguments are provided, ``price`` is not
+            finite, generation revenue is already configured, or whole-project
+            revenue is combined with contract or remainder revenue.
         """
+        if (price is None) == (price_policy is None):
+            raise ValueError("provide exactly one of price or price_policy")
+        if price is not None and (not isinstance(price, int | float) or isinstance(price, bool)):
+            raise TypeError("generation_revenue price must be a finite scalar")
+        if price_policy is not None and not isinstance(price_policy, GenerationPrice):
+            raise TypeError("generation_revenue price_policy must be a GenerationPrice")
         if self._config.market is not None:
             raise ValueError("generation_revenue may only be called once")
         if self._has_generation_revenue_policies():
@@ -556,8 +571,14 @@ def generation_revenue(
                 "generation_revenue cannot be combined with "
                 "generation_revenue_contract or generation_revenue_remainder"
             )
+        selected_price: float | GenerationPrice
+        if price is not None:
+            selected_price = float(price)
+        else:
+            assert price_policy is not None
+            selected_price = price_policy
         updated = RevenueConfig(
-            price=_coerce_generation_price(price, field_name="generation_revenue price"),
+            price=selected_price,
             label="Revenue" if label is None else label,
             pro_forma_category=pro_forma_category,
             tax_treatment=tax_treatment,
diff --git a/docs/calculations/escalation.md b/docs/calculations/escalation.md
index d2eca8f..f80e69c 100644
--- a/docs/calculations/escalation.md
+++ b/docs/calculations/escalation.md
@@ -37,11 +37,14 @@ anywhere escalation is accepted.
 
 ## Where escalation is applied
 
-- `EnergyProject.default_escalation(rate=...)` sets a project-wide default.
+- `EnergyProject.default_escalation(rate=...)` sets a project-wide default. A scalar
+  `.generation_revenue(price=...)` inherits it, using the earliest generation event as
+  the reference date when no `amount_reference_date` is configured.
 - Per-component cost and credit methods accept an `escalation=` argument, e.g.
   `.fixed_opex(amount=, escalation=...)` and `ptc(..., escalation=...)`.
-- Simple generation revenue can use a float price; scheduled or callable revenue
-  prices use `GenerationPrice`.
+- An explicit `GenerationPrice` supplied through
+  `.generation_revenue(price_policy=...)` fully specifies settlement prices and does
+  not inherit the project default. This includes fixed, scheduled, and callable prices.
 - Tax credits escalate too: `ptc(..., escalation=...)`.
 
 `GenerationPrice.schedule(...)` is an exact-date lookup, not a sequence of price
diff --git a/docs/concepts/energy_project.md b/docs/concepts/energy_project.md
index 9be57f1..9f33490 100644
--- a/docs/concepts/energy_project.md
+++ b/docs/concepts/energy_project.md
@@ -45,7 +45,7 @@ keyword-only.
 
 | Method | Purpose |
 |--------|---------|
-| `.generation_revenue(price=...)` | Revenue = generation × price. |
+| `.generation_revenue(price=..., price_policy=...)` | Whole-project revenue; provide one scalar price or explicit `GenerationPrice` policy. |
 | `.generation_revenue_contract(name=, contract=)` | Contracted generation revenue such as PPAs. |
 | `.generation_revenue_remainder(name=, price=)` | Revenue from generation not allocated to contracts. |
 | `.fixed_opex(amount=, frequency=, ...)` | Recurring fixed operating cost. |
diff --git a/docs/guides/escalation_and_financing.md b/docs/guides/escalation_and_financing.md
index cd44bc8..5f40d4e 100644
--- a/docs/guides/escalation_and_financing.md
+++ b/docs/guides/escalation_and_financing.md
@@ -6,13 +6,21 @@ first-class options on the builder.
 
 ## Escalation
 
-A project-wide default escalation is applied to cost items and tax credits relative to a
-reference date:
+A project-wide default escalation is applied to scalar generation-revenue prices, cost
+items, and tax credits relative to a reference date:
 
 ```python
-project = project.default_escalation(rate=0.025, amount_reference_date=date(2025, 1, 1))
+project = (
+    project
+    .default_escalation(rate=0.025, amount_reference_date=date(2025, 1, 1))
+    .generation_revenue(price=45.0)
+)
 ```
 
+Here, `45.0` is the price on January 1, 2025. If the default omits
+`amount_reference_date`, the earliest generation event becomes the scalar price's
+reference date.
+
 Many per-component methods can override the default with their own `escalation=`
 argument — a bare float for a constant rate, or an
 {py:class}`~dcaf.finance.EscalationPolicy` for piecewise/index-based growth:
@@ -28,12 +36,20 @@ revenue_escalation = ConstantRateEscalation(date(2025, 1, 1), rate=0.025)
 project = (
     project
     .generation_revenue(
-        price=GenerationPrice.callable(lambda event: 45.0 * revenue_escalation.factor(event.date))
+        price_policy=GenerationPrice.callable(
+            lambda event: 45.0 * revenue_escalation.factor(event.date)
+        )
     )
     .fixed_opex(amount=10_000_000.0, escalation=0.03)
 )
 ```
 
+An explicit `GenerationPrice` passed as `price_policy` is a complete settlement-price
+policy and does not inherit `default_escalation`. This keeps
+`GenerationPrice.fixed(...)` constant and prevents scheduled or callable prices from
+being escalated twice. Use a callable, as above, when revenue needs escalation
+different from the project default.
+
 For explicit date-indexed prices, `GenerationPrice.schedule(...)` requires an exact
 date match for every generation settlement being priced. Schedule entries are not
 forward-filled or treated as effective-until-changed values.
diff --git a/docs/guides/outages.md b/docs/guides/outages.md
index 9b49d3e..b92b786 100644
--- a/docs/guides/outages.md
+++ b/docs/guides/outages.md
@@ -25,6 +25,12 @@ project = project.construction_outage(
 )
 ```
 
+When `sell_price_per_unit` is omitted, the outage reuses whole-project generation
+pricing. A scalar `.generation_revenue(price=...)` inherits the same project-default
+escalation for outage lost revenue. A fixed
+`.generation_revenue(price_policy=GenerationPrice.fixed(...))` remains un-escalated.
+Scheduled and callable price policies require an explicit outage price.
+
 Each outage becomes a component named `construction_outage:<name>`, so you can call
 `.construction_outage(...)` multiple times and read each back individually:
 
diff --git a/tests/unit/test_generation_linked_policies.py b/tests/unit/test_generation_linked_policies.py
index fea4fc9..29dfd3f 100644
--- a/tests/unit/test_generation_linked_policies.py
+++ b/tests/unit/test_generation_linked_policies.py
@@ -28,6 +28,15 @@ def _annual_generation() -> GenerationStream:
     )
 
 
+def _two_year_generation() -> GenerationStream:
+    return GenerationStream(
+        [
+            Generation(100.0, date(2026, 1, 1)),
+            Generation(100.0, date(2027, 1, 1)),
+        ]
+    )
+
+
 def _fraction_of_generation_contract(
     generation_share: float = 0.50,
     price: float = 45.0,
@@ -174,7 +183,10 @@ def test_generation_revenue_replaces_revenue_from_generation_for_whole_project_s
                 ]
             )
         )
-        .generation_revenue(price=GenerationPrice.fixed(50.0), label="Generation Revenue")
+        .generation_revenue(
+            price_policy=GenerationPrice.fixed(50.0),
+            label="Generation Revenue",
+        )
         .analyze()
     )
 
@@ -188,7 +200,7 @@ def test_generation_revenue_replaces_revenue_from_generation_for_whole_project_s
     assert not hasattr(EnergyProject(), "revenue_from_generation")
 
 
-def test_generation_revenue_accepts_float_price_as_fixed_generation_price():
+def test_generation_revenue_float_price_is_unescalated_without_project_default():
     analysis = (
         EnergyProject()
         .generation_stream(
@@ -208,6 +220,156 @@ def test_generation_revenue_accepts_float_price_as_fixed_generation_price():
     assert [flow.amount for flow in revenue] == pytest.approx([5_000.0, 10_000.0])
 
 
+@pytest.mark.parametrize(("price", "expected_revenue"), [(0, 0.0), (-50, -5_000.0)])
+def test_generation_revenue_accepts_zero_and_negative_scalar_prices(
+    price: int,
+    expected_revenue: float,
+):
+    analysis = (
+        EnergyProject()
+        .generation_stream(stream=GenerationStream([Generation(100.0, date(2026, 1, 1))]))
+        .generation_revenue(price=price)
+        .analyze()
+    )
+
+    assert analysis.cashflow_components["revenue"].sum() == pytest.approx(expected_revenue)
+
+
+@pytest.mark.parametrize("price", [float("nan"), float("inf"), float("-inf")])
+def test_generation_revenue_rejects_non_finite_scalar_prices(price: float):
+    with pytest.raises(ValueError, match="generation_revenue price must be finite"):
+        EnergyProject().generation_revenue(price=price)
+
+
+def test_generation_revenue_rejects_bool_scalar_price():
+    with pytest.raises(TypeError, match="generation_revenue price must be a finite scalar"):
+        EnergyProject().generation_revenue(price=True)  # type: ignore[arg-type]
+
+
+def test_generation_revenue_float_price_uses_project_default_escalation():
+    analysis = (
+        EnergyProject()
+        .default_escalation(rate=0.10)
+        .generation_stream(stream=_two_year_generation())
+        .generation_revenue(price=50.0)
+        .analyze()
+    )
+
+    revenue = analysis.cashflow_components["revenue"]
+
+    assert [flow.amount for flow in revenue] == pytest.approx([5_000.0, 5_500.0])
+
+
+def test_generation_revenue_float_price_uses_earliest_date_in_unsorted_generation():
+    analysis = (
+        EnergyProject()
+        .default_escalation(rate=0.10)
+        .generation_stream(
+            stream=GenerationStream(
+                [
+                    Generation(100.0, date(2027, 1, 1)),
+                    Generation(100.0, date(2026, 1, 1)),
+                ]
+            )
+        )
+        .generation_revenue(price=50.0)
+        .analyze()
+    )
+
+    revenue = analysis.cashflow_components["revenue"]
+
+    assert [flow.amount for flow in revenue] == pytest.approx([5_500.0, 5_000.0])
+
+
+def test_generation_revenue_float_price_uses_default_escalation_reference_date():
+    analysis = (
+        EnergyProject()
+        .default_escalation(rate=0.10, amount_reference_date=date(2025, 1, 1))
+        .generation_stream(stream=_two_year_generation())
+        .generation_revenue(price=50.0)
+        .analyze()
+    )
+
+    revenue = analysis.cashflow_components["revenue"]
+
+    assert [flow.amount for flow in revenue] == pytest.approx([5_500.0, 6_050.0])
+
+
+@pytest.mark.parametrize(
+    "price",
+    [
+        GenerationPrice.fixed(50.0),
+        GenerationPrice.schedule(
+            {
+                date(2026, 1, 1): 50.0,
+                date(2027, 1, 1): 50.0,
+            }
+        ),
+        GenerationPrice.callable(lambda _event: 50.0),
+    ],
+    ids=["fixed", "schedule", "callable"],
+)
+def test_explicit_generation_price_ignores_project_default_escalation(
+    price: GenerationPrice,
+):
+    analysis = (
+        EnergyProject()
+        .default_escalation(rate=0.10)
+        .generation_stream(stream=_two_year_generation())
+        .generation_revenue(price_policy=price)
+        .analyze()
+    )
+
+    revenue = analysis.cashflow_components["revenue"]
+
+    assert [flow.amount for flow in revenue] == pytest.approx([5_000.0, 5_000.0])
+
+
+def test_generation_revenue_rejects_generation_price_in_scalar_price_argument():
+    invalid_price = cast(float, GenerationPrice.fixed(50.0))
+
+    with pytest.raises(TypeError, match="generation_revenue price must be a finite scalar"):
+        EnergyProject().generation_revenue(price=invalid_price)
+
+
+def test_generation_revenue_requires_exactly_one_price_source():
+    with pytest.raises(ValueError, match="provide exactly one of price or price_policy"):
+        EnergyProject().generation_revenue()
+
+    with pytest.raises(ValueError, match="provide exactly one of price or price_policy"):
+        EnergyProject().generation_revenue(
+            price=50.0,
+            price_policy=GenerationPrice.fixed(50.0),
+        )
+
+
+def test_generation_contract_and_remainder_prices_ignore_project_default_escalation():
+    analysis = (
+        EnergyProject()
+        .default_escalation(rate=0.10)
+        .generation_stream(stream=_two_year_generation())
+        .generation_revenue_contract(
+            name="revenue:ppa",
+            contract=EnergyContract.fraction_of_generation(
+                generation_share=0.50,
+                price=GenerationPrice.fixed(50.0),
+            ),
+        )
+        .generation_revenue_remainder(
+            name="revenue:merchant",
+            price=GenerationPrice.fixed(40.0),
+        )
+        .analyze()
+    )
+
+    assert [flow.amount for flow in analysis.cashflow_components["revenue:ppa"]] == (
+        pytest.approx([2_500.0, 2_500.0])
+    )
+    assert [flow.amount for flow in analysis.cashflow_components["revenue:merchant"]] == (
+        pytest.approx([2_000.0, 2_000.0])
+    )
+
+
 def test_generation_revenue_schedule_settles_each_event_at_its_exact_date_price():
     """Exact-date prices settle 100 MWh at $45 and 200 MWh at $47."""
     analysis = (
@@ -221,7 +383,7 @@ def test_generation_revenue_schedule_settles_each_event_at_its_exact_date_price(
             )
         )
         .generation_revenue(
-            price=GenerationPrice.schedule(
+            price_policy=GenerationPrice.schedule(
                 {
                     date(2026, 1, 1): 45.0,
                     date(2027, 1, 1): 47.0,
@@ -270,7 +432,7 @@ def test_generation_revenue_schedule_requires_an_exact_one_to_one_date_domain(
         (
             EnergyProject()
             .generation_stream(stream=generation)
-            .generation_revenue(price=GenerationPrice.schedule(price_schedule))
+            .generation_revenue(price_policy=GenerationPrice.schedule(price_schedule))
             .analyze()
         )
 
@@ -296,7 +458,7 @@ def price(event: GenerationSettlementEvent) -> float:
                 ]
             )
         )
-        .generation_revenue(price=GenerationPrice.callable(price))
+        .generation_revenue(price_policy=GenerationPrice.callable(price))
         .analyze()
     )
 
@@ -324,13 +486,13 @@ def test_generation_revenue_may_only_be_called_once():
     with pytest.raises(ValueError, match="generation_revenue may only be called once"):
         (
             EnergyProject()
-            .generation_revenue(price=GenerationPrice.fixed(50.0))
-            .generation_revenue(price=GenerationPrice.fixed(60.0))
+            .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
+            .generation_revenue(price_policy=GenerationPrice.fixed(60.0))
         )
 
 
 def test_generation_revenue_is_mutually_exclusive_with_contract_revenue_methods():
-    whole_project = EnergyProject().generation_revenue(price=GenerationPrice.fixed(50.0))
+    whole_project = EnergyProject().generation_revenue(price_policy=GenerationPrice.fixed(50.0))
 
     with pytest.raises(
         ValueError,
@@ -363,7 +525,7 @@ def test_generation_revenue_is_mutually_exclusive_with_contract_revenue_methods(
                 name="revenue:ppa",
                 contract=_fraction_of_generation_contract(),
             )
-            .generation_revenue(price=GenerationPrice.fixed(50.0))
+            .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
         )
 
 
@@ -439,14 +601,14 @@ def test_only_one_generation_revenue_remainder_is_allowed():
         )
 
 
-def test_generation_revenue_prices_must_be_generation_prices_or_floats():
+def test_generation_revenue_policy_and_remainder_prices_must_be_generation_prices():
     bad_price = cast(GenerationPrice, object())
 
     with pytest.raises(
         TypeError,
-        match="generation_revenue price must be a GenerationPrice or float",
+        match="generation_revenue price_policy must be a GenerationPrice",
     ):
-        EnergyProject().generation_revenue(price=bad_price)
+        EnergyProject().generation_revenue(price_policy=bad_price)
 
     with pytest.raises(
         TypeError,
@@ -463,7 +625,7 @@ def test_generation_revenue_methods_require_generation_at_analysis_time():
         ValueError,
         match="generation revenue requires generation to be configured",
     ):
-        EnergyProject().generation_revenue(price=GenerationPrice.fixed(50.0)).analyze()
+        EnergyProject().generation_revenue(price_policy=GenerationPrice.fixed(50.0)).analyze()
 
     with pytest.raises(
         ValueError,
diff --git a/tests/unit/test_outage.py b/tests/unit/test_outage.py
index a74da75..73ec69a 100644
--- a/tests/unit/test_outage.py
+++ b/tests/unit/test_outage.py
@@ -11,7 +11,7 @@
 from dcaf.finance.outage import construction_outage, generator_outage
 from dcaf.shared.time import timedelta_fractional_years
 from dcaf.shared.types import ProFormaCategory, TaxTreatment
-from dcaf.streams import GenerationStream
+from dcaf.streams import Generation, GenerationStream
 
 
 def test_generator_outage_matches_classmethod():
@@ -221,7 +221,7 @@ def test_construction_outage_equivalence_with_builder_method():
             operations_start=date(2026, 1, 1),
             operations_end=date(2027, 1, 1),
         )
-        .generation_revenue(price=GenerationPrice.fixed(sell_price))
+        .generation_revenue(price_policy=GenerationPrice.fixed(sell_price))
         .construction_outage(
             capacity_mw=1000.0,
             capacity_factor=0.92,
@@ -253,16 +253,17 @@ def test_construction_outage_equivalence_with_builder_method():
 
 
 def test_construction_outage_market_price_lookup_via_builder():
-    """The builder still falls back to the configured market price when none is given."""
+    """An explicit fixed market policy remains fixed when used for outage fallback."""
     project = (
         EnergyProject()
+        .default_escalation(rate=0.10, amount_reference_date=date(2024, 5, 11))
         .generation(
             capacity_mw=10.0,
             capacity_factor=1.0,
             operations_start=date(2026, 1, 1),
             operations_end=date(2027, 1, 1),
         )
-        .generation_revenue(price=GenerationPrice.fixed(42.0))
+        .generation_revenue(price_policy=GenerationPrice.fixed(42.0))
         .construction_outage(
             start=date(2025, 5, 1),
             end=date(2025, 5, 11),
@@ -276,6 +277,78 @@ def test_construction_outage_market_price_lookup_via_builder():
     assert impact.sum() == pytest.approx(expected)
 
 
+def test_construction_outage_scalar_market_price_inherits_default_escalation():
+    project = (
+        EnergyProject()
+        .default_escalation(rate=0.10, amount_reference_date=date(2025, 1, 1))
+        .generation(
+            capacity_mw=10.0,
+            capacity_factor=1.0,
+            operations_start=date(2026, 1, 1),
+            operations_end=date(2027, 1, 1),
+        )
+        .generation_revenue(price=50.0)
+        .construction_outage(
+            start=date(2026, 1, 1),
+            end=date(2026, 1, 2),
+            capacity_mw=1.0,
+            capacity_factor=1.0,
+            timing="begin",
+        )
+    )
+
+    impact = project.analyze().cashflow_components["construction_outage"]
+
+    assert impact.sum() == pytest.approx(-(24.0 * 50.0 * 1.10))
+
+
+def test_construction_outage_scalar_market_price_uses_earliest_generation_reference():
+    project = (
+        EnergyProject()
+        .default_escalation(rate=0.10)
+        .generation_stream(
+            stream=GenerationStream(
+                [
+                    Generation(100.0, date(2026, 1, 1)),
+                    Generation(100.0, date(2027, 1, 1)),
+                ]
+            )
+        )
+        .generation_revenue(price=50.0)
+        .construction_outage(
+            start=date(2027, 1, 1),
+            end=date(2027, 1, 2),
+            capacity_mw=1.0,
+            capacity_factor=1.0,
+            timing="begin",
+        )
+    )
+
+    impact = project.analyze().cashflow_components["construction_outage"]
+
+    assert impact.sum() == pytest.approx(-(24.0 * 50.0 * 1.10))
+
+
+def test_construction_outage_scalar_market_price_deflates_before_generation_reference():
+    project = (
+        EnergyProject()
+        .default_escalation(rate=0.10)
+        .generation_stream(stream=GenerationStream([Generation(100.0, date(2026, 1, 1))]))
+        .generation_revenue(price=50.0)
+        .construction_outage(
+            start=date(2025, 1, 1),
+            end=date(2025, 1, 2),
+            capacity_mw=1.0,
+            capacity_factor=1.0,
+            timing="begin",
+        )
+    )
+
+    impact = project.analyze().cashflow_components["construction_outage"]
+
+    assert impact.sum() == pytest.approx(-(24.0 * 50.0 / 1.10))
+
+
 @pytest.mark.parametrize(
     "market_price",
     [
@@ -294,7 +367,7 @@ def test_construction_outage_requires_explicit_price_for_dynamic_generation_reve
             operations_start=date(2026, 1, 1),
             operations_end=date(2027, 1, 1),
         )
-        .generation_revenue(price=market_price)
+        .generation_revenue(price_policy=market_price)
         .construction_outage(
             start=date(2025, 5, 1),
             end=date(2025, 5, 11),
@@ -306,8 +379,8 @@ def test_construction_outage_requires_explicit_price_for_dynamic_generation_reve
     with pytest.raises(
         ValueError,
         match=(
-            "requires sell_price_per_unit unless generation_revenue is configured with a fixed "
-            "price"
+            "requires sell_price_per_unit unless generation_revenue is configured with price "
+            "or a fixed price_policy"
         ),
     ):
         project.analyze()
diff --git a/tests/unit/test_project.py b/tests/unit/test_project.py
index aa6723a..d91a74e 100644
--- a/tests/unit/test_project.py
+++ b/tests/unit/test_project.py
@@ -85,7 +85,7 @@ def test_energy_project_single_asset_workflow_builds_analysis_and_metrics():
         )
         .fixed_opex(amount=100.0, frequency="year")
         .variable_cost(rate_per_unit=10.0)
-        .generation_revenue(price=GenerationPrice.fixed(50.0))
+        .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
         .depreciation_macrs(property_class=5)
         .investment_tax_credit(rate=0.10)
         .tax(rate=0.21)
@@ -148,7 +148,7 @@ def test_component_key_collision_rejects_policy_and_generation_revenue():
     project = (
         EnergyProject()
         .generation_stream(stream=GenerationStream([Generation(100.0, date(2026, 1, 1))]))
-        .generation_revenue(price=GenerationPrice.fixed(50.0))
+        .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
         .generation_linked_policy(name="revenue", policy=_EmptyGenerationLinkedPolicy())
     )
 
@@ -326,7 +326,7 @@ def test_energy_project_is_order_independent_across_sections():
             operations_start=date(2026, 1, 1),
             operations_end=date(2027, 1, 1),
         )
-        .generation_revenue(price=GenerationPrice.fixed(60.0))
+        .generation_revenue(price_policy=GenerationPrice.fixed(60.0))
         .fixed_opex(amount=50.0, frequency="year")
         .construction(
             overnight_cost=200.0,
@@ -347,7 +347,7 @@ def test_energy_project_is_order_independent_across_sections():
             period="year",
         )
         .fixed_opex(amount=50.0, frequency="year")
-        .generation_revenue(price=GenerationPrice.fixed(60.0))
+        .generation_revenue(price_policy=GenerationPrice.fixed(60.0))
         .generation(
             capacity_mw=25.0,
             capacity_factor=0.8,
@@ -384,7 +384,7 @@ def test_energy_project_metrics_treats_irr_overflow_as_non_convergence():
         )
         .fixed_opex(amount=100.0)
         .variable_cost(rate_per_unit=10.0)
-        .generation_revenue(price=GenerationPrice.fixed(50.0))
+        .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
     )
 
     analysis = project.analyze()
@@ -752,7 +752,7 @@ def test_energy_project_generation_outage_reduces_modeled_generation_economics()
             end=date(2026, 5, 11),
             label="Refueling extension",
         )
-        .generation_revenue(price=GenerationPrice.fixed(50.0))
+        .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
         .variable_cost(rate_per_unit=5.0)
         .production_tax_credit(rate_per_unit=1.0, years=1)
     )
@@ -821,7 +821,7 @@ def test_energy_project_ptc_is_tax_credit_not_taxable_income():
             operations_start=date(2026, 1, 1),
             operations_end=date(2027, 1, 1),
         )
-        .generation_revenue(price=GenerationPrice.fixed(10.0))
+        .generation_revenue(price_policy=GenerationPrice.fixed(10.0))
         .production_tax_credit(rate_per_unit=2.0, years=1)
         .tax(rate=0.21)
     )
@@ -845,7 +845,7 @@ def test_energy_project_construction_outage_preserves_generation():
             operations_start=date(2026, 1, 1),
             operations_end=date(2027, 1, 1),
         )
-        .generation_revenue(price=GenerationPrice.fixed(50.0))
+        .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
         .construction_outage(
             start=date(2025, 5, 1),
             end=date(2025, 5, 11),
@@ -901,7 +901,7 @@ def test_energy_project_construction_outage_explicit_price_and_lcoe():
             operations_start=date(2026, 1, 1),
             operations_end=date(2027, 1, 1),
         )
-        .generation_revenue(price=GenerationPrice.fixed(50.0))
+        .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
     )
     outage_project = base_project.construction_outage(
         start=date(2025, 5, 1),
@@ -949,7 +949,7 @@ def test_energy_project_construction_outage_models_two_construction_outages():
             operations_start=date(2032, 1, 1),
             operations_end=date(2033, 1, 1),
         )
-        .generation_revenue(price=GenerationPrice.fixed(45.0))
+        .generation_revenue(price_policy=GenerationPrice.fixed(45.0))
         .construction_outage(
             name="refueling_1",
             start=date(2028, 4, 1),
@@ -1045,7 +1045,7 @@ def test_project_pro_forma_can_write_csv(tmp_path):
             operations_start=date(2026, 1, 1),
             operations_end=date(2027, 1, 1),
         )
-        .generation_revenue(price=GenerationPrice.fixed(50.0))
+        .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
     )
 
     pro_forma = project.analyze().pro_forma(period="year")
@@ -1599,7 +1599,7 @@ def test_energy_project_discount_rate_sets_default_metrics_rate():
             operations_start=date(2026, 1, 1),
             operations_end=date(2027, 1, 1),
         )
-        .generation_revenue(price=GenerationPrice.fixed(50.0))
+        .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
     )
 
     analysis = project.analyze()
@@ -1637,7 +1637,7 @@ def test_energy_project_metrics_override_builder_valuation_rate():
             construction_start=date(2025, 1, 1),
             period="year",
         )
-        .generation_revenue(price=GenerationPrice.fixed(50.0))
+        .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
     )
 
     analysis = project.analyze()
@@ -1658,7 +1658,7 @@ def test_energy_project_metrics_override_rejects_invalid_negative_discount_rate(
             operations_start=date(2026, 1, 1),
             operations_end=date(2027, 1, 1),
         )
-        .generation_revenue(price=GenerationPrice.fixed(50.0))
+        .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
         .analyze()
     )
 
@@ -1676,7 +1676,7 @@ def test_energy_project_metrics_override_allows_negative_discount_rate_above_min
             operations_start=date(2026, 1, 1),
             operations_end=date(2027, 1, 1),
         )
-        .generation_revenue(price=GenerationPrice.fixed(50.0))
+        .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
         .analyze()
     )
 
@@ -1704,7 +1704,7 @@ def test_energy_project_tax_allows_zero_rate():
             operations_start=date(2026, 1, 1),
             operations_end=date(2027, 1, 1),
         )
-        .generation_revenue(price=GenerationPrice.fixed(50.0))
+        .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
     )
 
     analysis = project.analyze()
diff --git a/tests/unit/test_timing_convention.py b/tests/unit/test_timing_convention.py
index 638e6f1..36f0112 100644
--- a/tests/unit/test_timing_convention.py
+++ b/tests/unit/test_timing_convention.py
@@ -138,7 +138,7 @@ def test_annual_capex_end_timing(self):
                 construction_start=date(2025, 2, 1),
                 period="year",
             )
-            .generation_revenue(price=GenerationPrice.fixed(50.0))
+            .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
         )
         analysis = project.analyze()
         capex_stream = analysis.cashflow_components["construction"]
@@ -174,7 +174,7 @@ def project(self):
                 construction_start=date(2029, 1, 1),
                 period="year",
             )
-            .generation_revenue(price=GenerationPrice.fixed(50.0))
+            .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
             .fixed_opex(amount=1_000_000, frequency="year")
         )
 
@@ -230,7 +230,7 @@ def test_generation_dates_begin_timing(self):
                 construction_start=date(2024, 1, 1),
                 period="year",
             )
-            .generation_revenue(price=GenerationPrice.fixed(50.0))
+            .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
         )
         analysis = project.analyze()
         gen_dates = [g.date for g in analysis.generation.entries]
@@ -259,7 +259,7 @@ def test_fixed_opex_dates_begin_timing(self):
                 construction_start=date(2024, 1, 1),
                 period="year",
             )
-            .generation_revenue(price=GenerationPrice.fixed(50.0))
+            .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
             .fixed_opex(amount=500_000, frequency="year")
         )
         analysis = project.analyze()
@@ -299,7 +299,7 @@ def test_generation_dates_middle_timing(self):
                 construction_start=date(2024, 1, 1),
                 period="year",
             )
-            .generation_revenue(price=GenerationPrice.fixed(50.0))
+            .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
         )
         analysis = project.analyze()
         gen_dates = [g.date for g in analysis.generation.entries]
@@ -323,7 +323,7 @@ def test_middle_timing_partial_first_and_last_period(self):
                 construction_start=date(2024, 1, 1),
                 period="year",
             )
-            .generation_revenue(price=GenerationPrice.fixed(50.0))
+            .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
         )
         analysis = project.analyze()
         gen_dates = [g.date for g in analysis.generation.entries]
@@ -359,7 +359,7 @@ def test_generation_begin_with_project_end(self):
                 construction_start=date(2024, 1, 1),
                 period="year",
             )
-            .generation_revenue(price=GenerationPrice.fixed(50.0))
+            .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
             .fixed_opex(amount=100_000, frequency="year")
         )
         analysis = project.analyze()
@@ -405,7 +405,7 @@ def test_macrs_dates_remapped_to_year_end(self):
                 construction_start=date(2024, 1, 1),
                 period="year",
             )
-            .generation_revenue(price=GenerationPrice.fixed(50.0))
+            .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
             .depreciation_macrs(property_class=5)
         )
         analysis = project.analyze()
@@ -434,7 +434,7 @@ def test_macrs_dates_after_operations_end_are_truncated_with_warning(self):
                 construction_start=date(2025, 1, 1),
                 period="year",
             )
-            .generation_revenue(price=GenerationPrice.fixed(50.0))
+            .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
             .depreciation_macrs(property_class=5)
         )
 
@@ -475,7 +475,7 @@ def test_construction_debt_amortization_dates_remapped(self):
                 construction_start=date(2024, 1, 1),
                 period="year",
             )
-            .generation_revenue(price=GenerationPrice.fixed(50.0))
+            .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
             .construction_financing(
                 debt_fraction=0.5,
                 amortization_rate=0.05,
@@ -507,7 +507,7 @@ def test_construction_debt_after_operations_end_is_truncated_with_warning(self):
                 construction_start=date(2025, 1, 1),
                 period="year",
             )
-            .generation_revenue(price=GenerationPrice.fixed(50.0))
+            .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
             .construction_financing(
                 debt_fraction=1.0,
                 amortization_rate=0.05,
@@ -629,7 +629,7 @@ def test_explicit_periods_use_calendar_end_uncapped(self):
                 construction_start=date(2024, 1, 1),
                 period="year",
             )
-            .generation_revenue(price=GenerationPrice.fixed(50.0))
+            .generation_revenue(price_policy=GenerationPrice.fixed(50.0))
         )
         analysis = project.analyze()
         gen_dates = [g.date for g in analysis.generation.entries]