An impact assessment of electricity

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1、AppliedEnergy88(2011)3791–3806ContentslistsavailableatScienceDirectAppliedEnergyjournalhomepage:www.elsevier.com/locate/apenergyAnimpactassessmentofelectricityandemissionallowancespricinginoptimisedexpansionplanningofpowersectorportfoliosAthanasiosI.Tolis⇑,AthanasiosA.RentizelasIndustri

2、alEngineeringLaboratory,MechanicalEngineeringSchool,NationalTechnicalUniversityofAthens,Zografou,15780Athens,GreecearticleinfoabstractArticlehistory:Thepresentworkconcernsasystematicinvestigationofpowersectorportfoliosthroughdiscretescenar-Received7December2010iosofelectricityandCO2allo

3、wanceprices.Theanalysisisperformedfordifferentprices,fromregulatedReceivedinrevisedform23February2011tocompletelyderegulatedmarkets,thusrepresentingdifferentelectricitymarketpolicies.ThemodellingAccepted28April2011approachisbasedonastochasticprogrammingalgorithmwithoutrecourse,usedforth

4、eoptimisationofAvailableonline19May2011powersectoreconomicsundermultipleuncertainties.Asequentialquadraticprogrammingroutineisappliedfortheentireinvestigationperiodwhilstthetime-dependentobjectivefunctionissubjecttovar-Keywords:ioussocialandproductionconstraints,usuallyconfrontedinpower

5、sectors.TheanalysisindicatedtheElectricitypricesoptimalcapacityadditionsthatshouldbeannuallyorderedfromeachcompetitivetechnologyinorderPowersectorportfolioOptimisationtosubstantiallyimproveboththeeconomyandthesustainabilityofthesystem.ItisconfirmedthatOperationalresearchhigherelectricity

6、pricesleadtohigherfinancialyieldsofpowerproduction,irrespectiveoftheCO2allow-Emissionstradingancepricelevel.Moreover,byfollowingtheproposedlicensingplanning,amedium-termreductionofCO2emissionsperMWhby30%mightbepossible.Interestingly,thecombinationofelectricitypricessubsidisationwithhighC

7、O2allowancepricesmayprovidefavourableconditionsforinvestorswillingtoengageonrenewableenergymarkets.Ó2011ElsevierLtd.Allrightsreserved.1.IntroductionElectricityproductionplanningmaybeinfluencedbyinterven-tionsonlicensingpolicies,fiscalconditionsandpricevolatility.TheOptimalexpansi