At fixed temperature difference and constant internal resistance,
Differentiation gives
It is positive below and negative above it, while power vanishes for an open or shorted load. Therefore the maximum power transfer theorem gives
At this point and half the electromotive force drops across the load. Maximum electrical power is not generally maximum thermal-conversion efficiency. If changing current also changes the temperature difference because the thermal source has finite impedance, the fixed- optimization must be reconsidered.

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