Recent progress in thermoelectric power production using Bismuth Telluride Bi2Te3 semiconductor modules has revealed the potential to effectively convert large volumes of low temperature industrial waste-heat to electricity. in order to render the process more cost effective, greater understanding of the effects of external influences on the module's power output is necessary. Such an understanding would facilitate the design of thermoelectric generators which serve to exploit available waste-heat. To this end, an experimental study is performed on the most adjustable operating parameter on a thermoelectric liquid-to-liquid generator, the electrical load resistance. A test stand apparatus is built applying a temperature gradient on commercially available Bi2Te3 thermoelectric modules by means of an injection and a rejection of heat brought upon by counter current hot and cold liquids. The thermoelectric power production relative to an increasing electrical load is investigated by means of an analysis of experimentally measured results in which the thermal input conditions are varied. The results detail the thermoelectric characteristics of a liquid-to-liquid generator under an increasing electrical load resistance by identifying the optimal electrical load resistance for peak thermoelectric production. A correlation between peak thermoelectric power and thermal input conditions is presented as well as an investigation into the validity of electrical load matching. (C) 2012 Elsevier Ltd. All rights reserved.