Power price in deregulated markets

Li, Y.; Flynn, Peter C.

doi:10.1109/pes.2003.1270423

Cited by 4 publications

(3 citation statements)

References 7 publications

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“…One should also keep in mind that it takes about 10 h for the product argon to reach the desired purity given the current plant design. In this analysis, it has been assumed that it takes only 2 h. In a recent paper, 7 we will discuss some design and control changes that can be implemented to reduce the time required to achieve argon product purity to about the time required for that of oxygen and nitrogen.…”

Section: Effect Of Startup Timementioning

confidence: 99%

“…Given the existing plant design, oxygen and nitrogen do reach product purity in about 2 h, but argon takes approximately 10 h. Thus, intermittent operation would probably not be economically viable because the 8-hour and 12-hour plants would produce significantly less argon than the continuously operated 24-hour plant. In a recent paper, 7 we discuss methods for reducing the time required to achieve the desired argon product purity. The methods involve both design and control changes.…”

Section: Extensions and Future Workmentioning

confidence: 99%

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Economic Incentive for Intermittent Operation of Air Separation Plants with Variable Power Costs

Miller

Luyben

Blouin³

2008

Ind. Eng. Chem. Res.

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This article presents a simplified economic analysis of the effect of hourly variations in power costs on energy and capital costs of cryogenic air separation plants. The objective is to see what ratio of peak-to-minimum energy costs is required to make intermittently operated air separation plants economically attractive. The study focuses on super-staged argon-column air separation plants producing both gaseous and liquid oxygen and nitrogen, along with high-purity liquid argon. Preliminary results indicate that power price ratios between about 2 and 7 are required, depending on the process and economic assumptions. The analysis uses thermodynamic ideal-work calculations to predict energy requirements for plants that produce varying amounts of liquid and gaseous products. These products must be provided to customers even when the plant is not running, so excess liquid oxygen and nitrogen must be produced and stored during the period when the plant is running. The actual power consumption of the base 24-hour plant is used to calculate a thermodynamic efficiency (about 33%), which is then used for the modified plants. Capital costs for the conventional continuously operated 24-hour plant are assumed to be some multiple of the energy costs for the 24-hour plant evaluated at the minimum power price (P min). Capital costs for the 12-hour plant and the 8-hour plant are scaled up from the capital cost of the 24-hour plant. The analysis assumes a three 8-hour power-price-window cost structure. The economics are evaluated over a range of power price ratios. In the most optimistic case, when the annual capital cost for the 24-hour plant is assumed to be 30% of the total annual cost, the equipment cost is scaled using the conventional 0.6 power factor and instantaneous start-up is assumed, the 8-hour plant becomes economically viable at a power−price ratio of 2.13. When the instantaneous start-up assumption is removed and one assumes that only the minimum power price is observed on weekends, the 8-hour plant becomes economically viable at a power price ratio of 4.15.

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Section: Effect Of Startup Timementioning

confidence: 99%

Section: Extensions and Future Workmentioning

confidence: 99%

Economic Incentive for Intermittent Operation of Air Separation Plants with Variable Power Costs

Miller

Luyben

Blouin³

2008

Ind. Eng. Chem. Res.

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“…So far, many studies on electricity price and its uncertainty have been concentrating on the price characteristics of different electricity markets. Paper [1][2][3][4][5] researched electricity price characteristics of different electricity markets, and pointed out that there exists obvious volatility in price data, i.e. price spiking.…”

Section: Introductionmentioning

confidence: 99%

Application of Intelligent Algorithm for Probability Density Estimation

Zheng¹,

Xie²,

Jun

2011

AMR

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There is no doubt that probability distribution is primary and important for the risk analyses on financial time series. And various non-Gaussian distributions have become one of focused and unsolved problems, especially for those studies on the real continuous variables. So this paper concentrates on the intelligent algorithm for probability density estimation by Least Squares Support Vector Machines (LS-SVM), and its application on the electricity price. Moreover a practical probability density modeling of electricity price is implemented by LS-SVM. Finally, case studies on the electricity price of New England electricity market have proved the validity of the proposed model.

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