气候变化领域集成服务门户(CCPortal): A unit commitment and economic dispatch model of the GB electricity market - Formulation and application to hydro pumped storage

CCPortal

DOI	10.1016/j.enpol.2022.113213
	A unit commitment and economic dispatch model of the GB electricity market - Formulation and application to hydro pumped storage
	Chyong, Chi Kong; Newbery, David
发表日期	2022
ISSN	0301-4215
EISSN	1873-6777
卷号	170 页码:28
英文摘要	We present a calibrated unit commitment dispatch model of the GB electricity market applied to an economic analysis of the four existing hydro pumped storage (PS) stations in GB. More variable renewable electricity (VRE) increases PS profit by an amount dependent on the generation mix. With a large share of coal, a 1 percentage point (p.p) increase in VRE increases total PS profit by an average of 2.3 p.p. With a more flexible system, to achieve a similar profitability, the share of wind and solar should rise to more than 60% of supply. Inflexible coal with high VRE increases price volatility that drives PS arbitrage revenue. Higher system flexibility smooths VRE variability and limits PS price arbitrage, increasing the role of PS balancing and ancillary service revenue. Between 2015 and 22 PS stations were inactive in managing transmission constraints but provided 18% of fast reserve, response and other reserve services in 2022. Stacking up the modelled revenue from price arbitrage and 2022 balancing and ancillary services revenues against the ongoing fixed costs suggests that the four existing PS stations are quite profitable. However, the revenues will not be enough to cover capex and opex of a new 600 MW PS station without more balancing and ancillary services market opportunities.
英文关键词	Economic modelling; Unit commitment; Economic dispatch; Electricity market modelling; Hydro pumped energy storage; Wind energy; Solar energy; Electrical energy storage investment
学科领域	Economics; Energy & Fuels; Environmental Sciences; Environmental Studies
语种	英语
WOS研究方向	Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology
WOS记录号	WOS:000856146100005
来源期刊	ENERGY POLICY
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/272132
作者单位	University of Cambridge; University of Cambridge; University of Cambridge
推荐引用方式 GB/T 7714	Chyong, Chi Kong,Newbery, David. A unit commitment and economic dispatch model of the GB electricity market - Formulation and application to hydro pumped storage[J],2022,170:28.
APA	Chyong, Chi Kong,&Newbery, David.(2022).A unit commitment and economic dispatch model of the GB electricity market - Formulation and application to hydro pumped storage.ENERGY POLICY,170,28.
MLA	Chyong, Chi Kong,et al."A unit commitment and economic dispatch model of the GB electricity market - Formulation and application to hydro pumped storage".ENERGY POLICY 170(2022):28.