scholarly journals Capacity credit of storage in long-term planning models and capacity markets

2021 ◽  
Vol 194 ◽  
pp. 107070
Author(s):  
Tim Mertens ◽  
Kenneth Bruninx ◽  
Jan Duerinck ◽  
Erik Delarue
Keyword(s):  
Capacity Markets ◽  
Planning Models

scholarly journals Assessing the Cost of Network Simplifications in Long-Term Hydrothermal Dispatch Planning Models

2021 ◽  
pp. 1-1
Author(s):  
Andrew Rosemberg ◽  
Alexandre Street ◽  
Joaquim Dias Garcia ◽  
Davi Michel Valladao ◽  
Thuener Silva ◽  
...  
Keyword(s):  
Planning Models ◽  
The Cost

scholarly journals Financing Cost Optimization in Construction Sector: A Review

2020 ◽  
Vol 26 (10) ◽  
pp. 94-108
Author(s):  
Saja Hadi Aldhamad ◽  
Sedqi Esmaeel Rezouki
Keyword(s):  
Interest Rates ◽  
Optimization Model ◽  
Cost Optimization ◽  
Financing Cost ◽  
Funding Sources ◽  
Credit Line ◽  
Planning Models ◽  
Financing Costs ◽  
The Cost

The main aim of this research is to introduce financing cost optimization and different financing alternatives. There are many studies about financing cost optimization. All previous studies considering the cost of financing have many shortcomings, some considered only one source of financing as a credit line without taking into account different financing alternatives. Having only one funding alternative powers, restricts contractors and leads to a very specific financing model. Although it is beneficial for the contractor to use a long-term loan to minimize interest charges and prevent a substantial withdrawal from his credit line, none of the existing financial-based planning models have considered long-term loans in their models or included a schedule of borrowed money and a repayment schedule with interest rates. The aim of this study is not only to eliminate the shortcomings of previous studies but also to incorporate a financing optimization model for various funding alternatives available to contractors in terms of funding sources and forms, cash provision times, interest rates and repayment options. This work proposes a financing optimization model, not only to remove the limitations but also to find optimal financing costs while offering the financing schedule without increasing the project duration and adjusting the starting times of the activities.

scholarly journals A new approach for coupling the short- and long-term planning models to design a pathway to carbon neutrality in a coal-based power system

Energy ◽  
2021 ◽  
pp. 122438
Author(s):  
Artur Wyrwa ◽  
Wojciech Suwała ◽  
Marcin Pluta ◽  
Maciej Raczyński ◽  
Janusz Zyśk ◽  
...  
Keyword(s):  
Power System ◽  
New Approach ◽  
Carbon Neutrality ◽  
Planning Models ◽  
Short And Long Term

scholarly journals Variable Renewable Energy in Long-Term Planning Models: A Multi-Model Perspective

2017 ◽  
Author(s):  
Wesley Cole ◽  
Bethany Frew ◽  
Trieu Mai ◽  
Yinong Sun ◽  
John Bistline ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Planning Models

scholarly journals Equilibrium Pricing with Duality-Based Method: Approach for Market-Oriented Capacity Remuneration Mechanism

Energies ◽  
2021 ◽  
Vol 14 (3) ◽  
pp. 567
Author(s):  
Perica Ilak ◽  
Lin Herenčić ◽  
Ivan Rajšl ◽  
Sara Raos ◽  
Željko Tomšić
Keyword(s):  
Power System ◽  
Capacity Utilization ◽  
Case Scenario ◽  
Program Problem ◽  
Worst Case ◽  
Design Elements ◽  
Marginal Costs ◽  
Capacity Markets ◽  
Linear Program Problem

The crucial design elements of a good capacity remuneration mechanism are market orientation, insurance of long-term power system adequacy, and optimal cross-border generation capacity utilization. Having in mind these design elements, this research aims to propose a financially fair pricing mechanism that will guarantee enough new capacity and will not present state aid. The proposed capacity remuneration mechanism is an easy-to-implement linear program problem presented in its primal and dual form. The shadow prices in the primal problem and dual variables in the dual problem are used to calculate the prices of firm capacity which is capacity needed for long-term power system adequacy under capacity remuneration mechanism. In order to test if the mechanism ensures sufficient new capacity under fair prices, the mechanism is tested on the European Network of Transmission System Operators for Electricity (ENTSO-E) regional block consisting of Austria, Slovenia, Hungary, and Croatia with simulation conducted for a period of one year with a one-hour resolution and for different scenarios of the credible critical events from a standpoint of security of supply; different amounts of newly installed firm capacity; different short-run marginal costs of newly installed firm capacity; and different capacity factors of newly installed firm capacity. Test data such as electricity prices and electricity load are referred to the year 2018. The results show that the worst-case scenario for Croatia is an isolated system scenario with dry hydrology that results with high values of indicators expected energy not served (EENS), loss of load expectation (LOLE), and loss of load probability (LOLP) for Croatia. Therefore, new capacity of several hundred MW is needed to stabilize these indicators at lower values. Price for that capacity depends on the range of installed firm capacity and should be in range of 1000–7000 €/MW/year for value of lost load (VoLL) in Croatia of 1000 €/MWh and 3000–22,000 €/MW/year for VoLL of 3100 €/MWh that correlates with prices from already established capacity markets. The presented methodology can assist policymakers, regulators, and market operators when determining capacity remuneration mechanism rules and both capacity and price caps. On the other hand, it can help capacity market participants to prepare the most suitable and near-optimal bids on capacity markets.

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