Is There Still Merit in the Merit Order Stack? The Impact of Dynamic Constraints on Optimal Plant Mix
File(s)Is There Still Merit In The Merit Order Stack.pdf (2.24 MB)
Accepted version
Author(s)
Staffell, I
Green, R
Type
Journal Article
Abstract
The merit order stack is used to tackle a wide variety of problems involving electricity dispatch. The simplification it relies on is to neglect dynamic issues such as the cost of starting stations. This leads the merit order stack to give a poor representation of the hourly pattern of prices and under-estimate the optimal level of investment in both peaking and inflexible baseload generators, and thus their run-times by up to 30%. We describe a simple method for incorporating start-up costs using a single equation derived from the load curve and station costs. The technique is demonstrated on the British electricity system in 2010 to test its performance against actual outturn, and in a 2020 scenario with increased wind capacity where it is compared to a dynamic unit-commitment scheduler. Our modification yields a better representation of electricity prices and reduces the errors in capacity investment by a factor of two.
Date Issued
2015-03-18
Date Acceptance
2015-02-14
Citation
IEEE Transactions on Power Systems, 2015, 31 (1), pp.43-53
ISSN
1558-0679
Publisher
IEEE
Start Page
43
End Page
53
Journal / Book Title
IEEE Transactions on Power Systems
Volume
31
Issue
1
Copyright Statement
© 2015 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.
Subjects
Energy
0906 Electrical And Electronic Engineering
Publication Status
Published