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Investigating the priority of market participants for low emission generation entry into the Australian grid

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  • Hasan, Kazi Nazmul
  • Saha, Tapan Kumar
  • Eghbal, Mehdi

Abstract

Environment friendly policies and emission pricing schemes necessitate the integration of more and more renewable power into electricity grids. However, generation entry and transmission network development in a deregulated market depends on the cost and benefit of a project, where the system/market operator eventually decides the feasibility of investment. In this process, the priorities of market participants are overlooked in some cases. This paper investigates the preferences of market participants in evaluating renewable generation entry to the Australian National Electricity Market (NEM). The priorities of market participants have been investigated through a Multi-Attribute Decision Making (MADM) approach. The TOPSIS (Technique for Order Performance by Similarity to Ideal Solution) algorithm is used to rank the preferences. Optimal Power Flow (OPF) and economic optimization of the Queensland network of the Australian NEM have been simulated in PSS/E and the MATLAB/MatPower software platform. Simulation studies confirm that in the current scenario, gas fired power plants near to the grid will lead in the generation portfolio due to their low lead time, lower investment and dispatchability. Remotely located wind and geothermal power would only be competitive with the existing LRET (Large scale Renewable Energy Target) payments along with very high carbon emission prices.

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  • Hasan, Kazi Nazmul & Saha, Tapan Kumar & Eghbal, Mehdi, 2014. "Investigating the priority of market participants for low emission generation entry into the Australian grid," Energy, Elsevier, vol. 71(C), pages 445-455.
    • Handle: RePEc:eee:energy:v:71:y:2014:i:c:p:445-455
    DOI: 10.1016/j.energy.2014.04.095
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    References listed on IDEAS

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    Cited by:

    1. Faber, Isaac & Lane, William & Pak, Wayne & Prakel, Mary & Rocha, Cheyne & Farr, John V., 2014. "Micro-energy markets: The role of a consumer preference pricing strategy on microgrid energy investment," Energy, Elsevier, vol. 74(C), pages 567-575.
    2. Parisa Rafiaani & Zoumpolia Dikopoulou & Miet Dael & Tom Kuppens & Hossein Azadi & Philippe Lebailly & Steven Passel, 2020. "Identifying Social Indicators for Sustainability Assessment of CCU Technologies: A Modified Multi-criteria Decision Making," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 147(1), pages 15-44, January.

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