Generation Capacity Expansion Planning in Deregulated Electricity ...

uwspace.uwaterloo.ca

Generation Capacity Expansion Planning in Deregulated Electricity ...

2.3 Case Study

2.3.1 System Data

The mathematical model discussed in the previous section is a linear programming model which is

programmed in the GAMS [19] environment. As discussed earlier, this model is designed from the

perspective of an investor. In the base case the optimal value of IRR is determined while the objective

function is maximization of the present value of total profits and salvage.

Data used in the base case scenario are given in Table I, which are adapted from [20]. It should be

mentioned here that the data used here, although being of 1990 values, are generally within the close

range of the currently reported figures in [21]. It should be noted that some of the data specific to the

technologies considered in this work, such as cost data, have a certain range and would vary

depending on the time, location and market.

TABLE I TECHNICAL PARAMETERS OF GENERATION TECHNOLOGIES CONSIDERED

15

Gas-fired Coal-Fired Combine-cycle

Fuel price, $/MBtu 6 2.8 6

Heat rate, Btu/kWh 11000 9900 7800

Capital cost, $/kW 350 1400 700

Fixed O&M cost, $/kW 1 23 12

Variable O&M, $/MWh 5 5 3

Price escalation of all costs related to plant, % 2 2 2

Depreciation rate, % 3 3 3

Levelized FCR, % 27 27 27

Present worth rate, % 10.5

Fuel price escalation, % 3 2 3

Planning period, years 25

More magazines by this user
Similar magazines