Economic Analysis of Large-Scale Pumped Storage Plants in Norway

Henden, Arild Lothe; Doorman, Gerard; Helseth, Arild

doi:10.1016/j.egypro.2015.12.340

Cited by 12 publications

(4 citation statements)

References 2 publications

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“…As a result, they determine the conditions under which PSHPP achieves noticeable competitiveness as an on-peak solution in comparison to traditional power plants. In the literature, there are more research on economic analyses of pumped storage powerplants, for example in abandoned coal mines [15,16], of Indian pumped storages schemes [17], of large-scale pumped storage plants in Norway [18], of such plants in China [19], in Korea [20] and many more papers [21].…”

Section: State Of the Artmentioning

confidence: 99%

Pumped Storage Hydropower as a Part of Energy Storage Systems in Poland—Młoty Case Study

Kulpa,

Kopacz,

Stecuła

et al. 2024

Energies

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The increase in the share of renewable energy sources (RES) leads to a growing need for sources or systems/actions to stabilize the national energy grid. Such stabilizing actions include market tools, such as prices and demand-side response (DSR) tools, as well as flexible energy sources (e.g., gas). In addition, energy storage, where pumped storage hydroelectricity (PSH) accounts for 90% of global storage capacity, plays an important role. Therefore, the authors presented a detailed analysis of PSH in the context of the dynamic growth of installed capacity in renewable energy sources. They analyzed the economic viability of this type of power plant, with a particular emphasis on operational costs, energy production, and revenue. The Młoty case study and market data, including historical data on various PSH, were presented and analyzed. This study uses copulas, simulation, and statistical analysis. The authors proved that market prices and arbitrage actions alone are not sufficient to achieve profitability of the investment; however, additional benefits, such as fees for available power, enable the achievement of economic profitability. The reason for this is the fact that one of the main goals of PSH is to serve as a power reserve. In addition, this paper presents the analysis of the utilization of existing PSH in the form of full pumping and energy generation cycles (charging and discharging storage).

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Section: State Of the Artmentioning

confidence: 99%

Pumped Storage Hydropower as a Part of Energy Storage Systems in Poland—Młoty Case Study

Kulpa,

Kopacz,

Stecuła

et al. 2024

Energies

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“…In the context of the growing participation of intermittent renewable energies, PHES has re-emerged as an economically and technologically acceptable option to manage electricity production during peak hours and storing wind and solar energy, ensuring its quality and continuity [7]; Kougias et al [8], mentioned that some of these PHES are under-utilized for energy control and management. Hendena et al [9] evaluated the convenience of installing a PHES and compared it to expanding the transmission network in its capacity, proving it is more favorable to install a PHES when managing energy.…”

Section: Introductionmentioning

confidence: 99%

Optimal Schedule the Operation Policy of a Pumped Energy Storage Plant Case Study Zimapán, México

et al. 2022

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Pumped-storage hydroelectric plants are an alternative to adapting the energy generation regimen to that of the demand, especially considering that the generation of intermittent clean energy provided by solar and wind power will cause greater differences between these two regimes. In this research, an optimal operation policy is determined through a simulation tool that allows the annual benefits under the energy arbitration service (purchase–sale) to be estimated, considering the variations of the energy price in Mexico. A case study is proposed in the Zimapán hydroelectric facility, where reservoir operation at the hourly level is simulated with records for a period of 3 years, considering historical values. The results establish that this type of pumped storage power plant obtains greater benefits by generating electrical energy during 8 h of high demand and pumping for more than 11 continuous hours in times of low demand. With this configuration, the PHES consumes 82.33 GWh/year more energy than it produces, and the energy generated is 210.83 GWh/year; however, when considering the energy arbitration service, a net income of more than USD 3.25 million per year is identified, which represents a 123.52% increase for the annual energy purchase.

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“…In the power market, Pumped storage power stations in the electric energy market can track the market electricity prices in real time, and rationally arrange the period of pumping power purchase and water discharge power generation. Not only can they obtain huge electrical energy benefits [2] , but also have a huge impact on maintaining the stability of the grid system, the smooth operation of power plants, and energy saving positive externality [3][4][5] .Literature [6] establishs a secondary optimization model for pumped storage power station, first determine the operation plan of the pumped storage power station based on the prediction of the future electricity price of the electricity market, further consider the storage capacity constraints, and adjust the operation plan. This model can optimize different time The periodic operation plan of the pumped storage power station has good adaptability, but it does not consider the impact of the pumped storage power plant's behavior on the market.…”

Section: Introductionmentioning

confidence: 99%

Bidding strategy of pumped storage power station in spot market considering different optimization periods

Zhou

Liu

et al. 2020

E3S Web Conf.

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Pumped storage power station has multiple functions, such as alleviating the contradiction between peak and valley, to ensure the safe and economic operation of power grid. In the non market stage, pumped storage power stations mainly obey the system operator’s scheduling. In the market stage, pumped storage power stations in China are likely to participate in the competitive power market and provide peak power, frequency regualtion and recovery services. The paper studies the bidding strategies of the pumped storage power stations participating in the power market, and provides decision support for the pumped storage power stations to maximize market returns.

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Economic Analysis of Large-Scale Pumped Storage Plants in Norway

Cited by 12 publications

References 2 publications

Pumped Storage Hydropower as a Part of Energy Storage Systems in Poland—Młoty Case Study

Pumped Storage Hydropower as a Part of Energy Storage Systems in Poland—Młoty Case Study

Optimal Schedule the Operation Policy of a Pumped Energy Storage Plant Case Study Zimapán, México

Bidding strategy of pumped storage power station in spot market considering different optimization periods

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