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Economic efficiency of coordinated multilateral trades in electricity markets
06 Electrical power supply and utilization (economics, policy, supplies, forecasts) 03/00661 Thermodynamic and economic analysis of a steam reformer-solid oxide fuel cell system fed by natural gas and ethanol Douvartzides, S. and Tsiakaras. P. Energy Sources, 2002, 24, (4). 365373. In the present work, ethanol and methane are compared as candidate fuels for solid oxide fuel cells (SOFCs). The thermodynamic analysis of both alternatives was undertaken considering that a SOFC stack operates by being fed by the equilibrium products of the steam reforming of each raw fuel. The comparison was made at atmospheric total pressure assuming low reforming factors (steam/fuel feed ratios) and SOFC operation at 800-1200 K. All operation conditions were selected so that carbon deposition in the SOFC anode is thermodynamically impossible. Results were obtained in terms of the maximum theoretical emf and the thermodynamic efficiency of total energy conversion. It was found that both fuels exhibit similar thermodynamic behaviour when fed in a SOFC stack, and some quality advantages with respect to ethanol are discussed.
Economics,
policy, supplies,
customer test system is used for illustration. The results show that such a market at times of light demands exhibits little market power, and at times of large demands exhibits a great deal of market power. This contrasts with the PCMI and HHI concentration measures, which give fixed measurement values of market power. The results of 2-year (730 round) market simulations show a range of deadweight efficiency loss between 0.9 and 6% compared to that of PoolCo, which results in a range between 0.5 and 10% for the same test case.
forecasts
03/00662 Demand response: reality versus ‘resource’ Ruff, L. E. The Efectricitjs Journal. 2002, 15, (IO), 10-23. Excessive enthusiasm for demand response (DR) is driven largely by the illusion that increasing DR creates large benefits for consumers in the form of lower prices and the confusion created by referring to DR as a ‘resource’ that should be treated just like supply resources in some undefined sense. DR should be implemented using standard market concepts and processes. 03/00663 Developing and implementing an industry code of conduct Jermain, D. 0. The Electriclt?~ Journml, 2002, 1.5, (lo), 35S42. There is wisdom in proactively trying to develop a code of conduct. But there is peril if a proactive effort does not work. Given the grave circumstances of the industry’s credibility, a bungled effort will hurt more than doing nothing. 03/00664 Development and optimization of power plant concepts for local wet fuels Raiko, M.O. et rd. Biomass and Bioenergy, 2003, 24, (I), 27-37. Many changes in business drivers are now affecting power-producing companies. The power market has been opened up and the number of locally operating companies has increased. At the same time the need to utilize locally produced biofuels is increasing because of environmental benefits and regulations. In this situation, power-producing companies have to focus on their in-house skills for generating a competitive edge over their rivals, such as the skills needed for developing the most economical energy investments for the best-paying customer for the local biomass producers. This paper explores the role of optimization in the development of small-sized energy investments. The paper provides an overview on a new design process for power companies for improved use of in-house technical and business expertise. As an example, illustrative design and optimization of local wet peat-based power investment is presented. Three concept alternatives are generated. Only power plant production capacity and peat moisture content are optimized for all alternatives. Long commercial experience of using peat as a power plant fuel in Finland can be transferred to bioenergy investments. In this paper, it is c;hown that conventional technology can be feasible for bioenergy production even in quite small size (below 10 MW). It is important to optimize simultaneously both the technology and the two businesses, power production and fuel production. Further, such high moisture content biomass as sludge, seaweed, grass, etc. can be economical fuels, if advanced drying systems arc adopted in a power plant. 03/00665 Economic efficiency of coordinated multilateral trades in electricity markets Al-Agtash, S. and Sub, R. Intetxat/onul Jozrrrlul of Electricul Pouvr & Energy Systems, 2002, 24, (10). 843-850. This paper presents economic efficiency evaluation of electricity markets operating on the basis of a coordinated multilateral trading concept. The evaluation accounts for the overall costs of power generation, network losses, and system and unit constraints. A noncollusive oligopolistic competition was assumed. An iterative Cournot model is used to characterize the competitive behaviour of suppliers. A supplier maximizes the profit of each of his generating units while taking rivals’ generation as given. Time span is over multiple hours. This leads to a mixed integer non-linear programming problem. The augmented Lagrangian approach was used to solve iteratively for An IEEE 24-bus, 8-supplier, and 17globally optimal schedules.
03/00669 Implications of fuel moisture content and distribution on the fuel purchasing strategy of biomass cogeneration power plants Prasertsan, S. and Krukanont, P. Biomass and Bioencq\~, 2003, 24, (l), 13-25. Biomass-fired power plant projects are usually developed with high risk in comparison to the conventional fossil power plant, merely because of the uncertainty of long-term fuel supply and cost. The project development is traditionally carried out by initially .:tssuming the fuel cost followed by detailed engineering design, prqject cost estimation
Fuel and Energy Abstracts
May 2003
155
Economics,
policy, supplies,
customer test system is used for illustration. The results show that such a market at times of light demands exhibits little market power, and at times of large demands exhibits a great deal of market power. This contrasts with the PCMI and HHI concentration measures, which give fixed measurement values of market power. The results of 2-year (730 round) market simulations show a range of deadweight efficiency loss between 0.9 and 6% compared to that of PoolCo, which results in a range between 0.5 and 10% for the same test case.
forecasts
03/00662 Demand response: reality versus ‘resource’ Ruff, L. E. The Efectricitjs Journal. 2002, 15, (IO), 10-23. Excessive enthusiasm for demand response (DR) is driven largely by the illusion that increasing DR creates large benefits for consumers in the form of lower prices and the confusion created by referring to DR as a ‘resource’ that should be treated just like supply resources in some undefined sense. DR should be implemented using standard market concepts and processes. 03/00663 Developing and implementing an industry code of conduct Jermain, D. 0. The Electriclt?~ Journml, 2002, 1.5, (lo), 35S42. There is wisdom in proactively trying to develop a code of conduct. But there is peril if a proactive effort does not work. Given the grave circumstances of the industry’s credibility, a bungled effort will hurt more than doing nothing. 03/00664 Development and optimization of power plant concepts for local wet fuels Raiko, M.O. et rd. Biomass and Bioenergy, 2003, 24, (I), 27-37. Many changes in business drivers are now affecting power-producing companies. The power market has been opened up and the number of locally operating companies has increased. At the same time the need to utilize locally produced biofuels is increasing because of environmental benefits and regulations. In this situation, power-producing companies have to focus on their in-house skills for generating a competitive edge over their rivals, such as the skills needed for developing the most economical energy investments for the best-paying customer for the local biomass producers. This paper explores the role of optimization in the development of small-sized energy investments. The paper provides an overview on a new design process for power companies for improved use of in-house technical and business expertise. As an example, illustrative design and optimization of local wet peat-based power investment is presented. Three concept alternatives are generated. Only power plant production capacity and peat moisture content are optimized for all alternatives. Long commercial experience of using peat as a power plant fuel in Finland can be transferred to bioenergy investments. In this paper, it is c;hown that conventional technology can be feasible for bioenergy production even in quite small size (below 10 MW). It is important to optimize simultaneously both the technology and the two businesses, power production and fuel production. Further, such high moisture content biomass as sludge, seaweed, grass, etc. can be economical fuels, if advanced drying systems arc adopted in a power plant. 03/00665 Economic efficiency of coordinated multilateral trades in electricity markets Al-Agtash, S. and Sub, R. Intetxat/onul Jozrrrlul of Electricul Pouvr & Energy Systems, 2002, 24, (10). 843-850. This paper presents economic efficiency evaluation of electricity markets operating on the basis of a coordinated multilateral trading concept. The evaluation accounts for the overall costs of power generation, network losses, and system and unit constraints. A noncollusive oligopolistic competition was assumed. An iterative Cournot model is used to characterize the competitive behaviour of suppliers. A supplier maximizes the profit of each of his generating units while taking rivals’ generation as given. Time span is over multiple hours. This leads to a mixed integer non-linear programming problem. The augmented Lagrangian approach was used to solve iteratively for An IEEE 24-bus, 8-supplier, and 17globally optimal schedules.
03/00669 Implications of fuel moisture content and distribution on the fuel purchasing strategy of biomass cogeneration power plants Prasertsan, S. and Krukanont, P. Biomass and Bioencq\~, 2003, 24, (l), 13-25. Biomass-fired power plant projects are usually developed with high risk in comparison to the conventional fossil power plant, merely because of the uncertainty of long-term fuel supply and cost. The project development is traditionally carried out by initially .:tssuming the fuel cost followed by detailed engineering design, prqject cost estimation
Fuel and Energy Abstracts
May 2003
155