期刊
ENERGY POLICY
卷 87, 期 -, 页码 392-406出版社
ELSEVIER SCI LTD
DOI: 10.1016/j.enpol.2015.09.012
关键词
Resource adequacy; Revenue sufficiency; Variable energy resource; Operating reserve demand curve; Scarcity pricing; ERCOT
资金
- U.S. Department of Energy, Office of Energy Efficiency and Renewable Energy through its Wind and Water Power Program
- Argonne, a U.S. Department of Energy Office of Science laboratory [DE-AC02-06CH11357]
We present a computationally efficient mixed-integer program (MIP) that determines optimal generator expansion decisions, and hourly unit commitment and dispatch in a power system. The impact of increasing wind power capacity on the optimal generation mix and generator profitability is analyzed for a test case that approximates the electricity market in Texas (ERCOT). We analyze three market policies that may support resource adequacy: Operating Reserve Demand Curves (ORDC), Fixed Reserve Scarcity Prices (FRSP) and fixed capacity payments (CP). Optimal expansion plans are comparable between the ORDC and FRSP implementations, while capacity payments may result in additional new capacity. The FRSP policy leads to frequent reserves scarcity events and corresponding price spikes, while the ORDC implementation results in more continuous energy prices. Average energy prices decrease with increasing wind penetration under all policies, as do revenues for baseload and wind generators. Intermediate and peak load plants benefit from higher reserve prices and are less exposed to reduced energy prices. All else equal, an ORDC approach may be preferred to FRSP as it results in similar expansion and revenues with less extreme energy prices. A fixed CP leads to additional new flexible NGCT units, but lower profits for other technologies. (C) 2015 Elsevier Ltd. All rights reserved.
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