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Incorporating short-term operational plant constraints into assessments of future electricity generation portfolios

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  • Vithayasrichareon, Peerapat
  • MacGill, Iain F.

Abstract

This paper presents a post-processing extension to a Monte-Carlo based generation portfolio planning tool in order to assess the short-term operational implications of different possible future generation portfolios. This extension involves running promising portfolios through a year of economic dispatch at 30-minute intervals whilst considering operational constraints and associated costs including minimum operating levels, ramp rate constraints and generator start-up costs. A case study of a power system with coal, combined cycle gas turbine (CCGT), open cycle gas turbine (OCGT) and wind generation options highlights that incorporating operational criteria into the long-term generation investment and planning analysis can have operating, economic and emissions implications for the different generation portfolios. The extent of the impacts depends on the dispatch strategies; the carbon price; and the mix of technologies within the portfolio. As intermittent generation within power systems increases and carbon pricing begins to change the merit order, such short-term operational considerations will become more significant for long-term generation investment frameworks.

Suggested Citation

  • Vithayasrichareon, Peerapat & MacGill, Iain F., 2014. "Incorporating short-term operational plant constraints into assessments of future electricity generation portfolios," Applied Energy, Elsevier, vol. 128(C), pages 144-155.
    • Handle: RePEc:eee:appene:v:128:y:2014:i:c:p:144-155
    DOI: 10.1016/j.apenergy.2014.04.052
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    1. Vithayasrichareon, Peerapat & Riesz, Jenny & MacGill, Iain, 2017. "Operational flexibility of future generation portfolios with high renewables," Applied Energy, Elsevier, vol. 206(C), pages 32-41.
    2. Inzunza, Andrés & Moreno, Rodrigo & Bernales, Alejandro & Rudnick, Hugh, 2016. "CVaR constrained planning of renewable generation with consideration of system inertial response, reserve services and demand participation," Energy Economics, Elsevier, vol. 59(C), pages 104-117.
    3. Pérez Odeh, Rodrigo & Watts, David & Flores, Yarela, 2018. "Planning in a changing environment: Applications of portfolio optimisation to deal with risk in the electricity sector," Renewable and Sustainable Energy Reviews, Elsevier, vol. 82(P3), pages 3808-3823.
    4. Koltsaklis, Nikolaos E. & Georgiadis, Michael C., 2015. "A multi-period, multi-regional generation expansion planning model incorporating unit commitment constraints," Applied Energy, Elsevier, vol. 158(C), pages 310-331.

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