A study on electricity export capability of the μCHP system with spot price

Shi You; Chresten Træholt; Bjarne Poulsen

doi:10.1109/PES.2009.5275409

A study on electricity export capability of the μCHP system with spot price

Shi You, Chresten Træholt, Bjarne Poulsen

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Abstract

When a number of muCHP systems are aggregated as a virtual power plant (VPP), they will be able to participate in the electricity wholesale market with no discrimination compared to conventional large power plants. Hence, this paper investigates the electricity export capability of the muCHP system when the electricity buyback price is given at a value equalizing the dynamic spot price. A muCHP system is modeled with optimized generation, and the marginal price of electricity export for such system is explained. A sensitivity analysis of several key factors, e.g. fuel price, heat to power ratio of the muCHP unit, which influence the export capability of muCHP system, is firstly carried out in the intraday case study, followed by the annual case study which explores the annual system performance. The results show that the electricity export capability of a muCHP system is closely related to its technical parameters, the associated energy price during the trade, as well as the demand profile. Furthermore, the muCHP system running under fluctuating spot price is likely to gain more profit than that running under a fixed electricity export price.

Original language	English
Title of host publication	IEEE Power & Energy Society General Meeting, 2009. PES '09.
Publisher	IEEE
Publication date	2009
Pages	1-6
ISBN (Print)	978-1-4244-4241-6
DOIs	https://doi.org/10.1109/PES.2009.5275409
Publication status	Published - 2009
Event	2009 IEEE Power and Energy Society General Meeting - Calgary, Canada Duration: 26 Jul 2009 → 30 Jul 2009 https://ieeexplore.ieee.org/xpl/conhome/5230481/proceeding http://ewh.ieee.org/cmte/PESGM09/

Conference

Conference	2009 IEEE Power and Energy Society General Meeting
Country/Territory	Canada
City	Calgary
Period	26/07/2009 → 30/07/2009
Internet address	https://ieeexplore.ieee.org/xpl/conhome/5230481/proceeding http://ewh.ieee.org/cmte/PESGM09/

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Copyright: 2009 IEEE. Personal use of this material is permitted. However, permission to reprint/republish this material for advertising or promotional purposes or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE

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title = "A study on electricity export capability of the μCHP system with spot price",

abstract = "When a number of muCHP systems are aggregated as a virtual power plant (VPP), they will be able to participate in the electricity wholesale market with no discrimination compared to conventional large power plants. Hence, this paper investigates the electricity export capability of the muCHP system when the electricity buyback price is given at a value equalizing the dynamic spot price. A muCHP system is modeled with optimized generation, and the marginal price of electricity export for such system is explained. A sensitivity analysis of several key factors, e.g. fuel price, heat to power ratio of the muCHP unit, which influence the export capability of muCHP system, is firstly carried out in the intraday case study, followed by the annual case study which explores the annual system performance. The results show that the electricity export capability of a muCHP system is closely related to its technical parameters, the associated energy price during the trade, as well as the demand profile. Furthermore, the muCHP system running under fluctuating spot price is likely to gain more profit than that running under a fixed electricity export price.",

author = "Shi You and Chresten Tr{\ae}holt and Bjarne Poulsen",

note = "Copyright: 2009 IEEE. Personal use of this material is permitted. However, permission to reprint/republish this material for advertising or promotional purposes or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE; 2009 IEEE Power and Energy Society General Meeting ; Conference date: 26-07-2009 Through 30-07-2009",

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AU - Træholt, Chresten

AU - Poulsen, Bjarne

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PY - 2009

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N2 - When a number of muCHP systems are aggregated as a virtual power plant (VPP), they will be able to participate in the electricity wholesale market with no discrimination compared to conventional large power plants. Hence, this paper investigates the electricity export capability of the muCHP system when the electricity buyback price is given at a value equalizing the dynamic spot price. A muCHP system is modeled with optimized generation, and the marginal price of electricity export for such system is explained. A sensitivity analysis of several key factors, e.g. fuel price, heat to power ratio of the muCHP unit, which influence the export capability of muCHP system, is firstly carried out in the intraday case study, followed by the annual case study which explores the annual system performance. The results show that the electricity export capability of a muCHP system is closely related to its technical parameters, the associated energy price during the trade, as well as the demand profile. Furthermore, the muCHP system running under fluctuating spot price is likely to gain more profit than that running under a fixed electricity export price.

AB - When a number of muCHP systems are aggregated as a virtual power plant (VPP), they will be able to participate in the electricity wholesale market with no discrimination compared to conventional large power plants. Hence, this paper investigates the electricity export capability of the muCHP system when the electricity buyback price is given at a value equalizing the dynamic spot price. A muCHP system is modeled with optimized generation, and the marginal price of electricity export for such system is explained. A sensitivity analysis of several key factors, e.g. fuel price, heat to power ratio of the muCHP unit, which influence the export capability of muCHP system, is firstly carried out in the intraday case study, followed by the annual case study which explores the annual system performance. The results show that the electricity export capability of a muCHP system is closely related to its technical parameters, the associated energy price during the trade, as well as the demand profile. Furthermore, the muCHP system running under fluctuating spot price is likely to gain more profit than that running under a fixed electricity export price.

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BT - IEEE Power & Energy Society General Meeting, 2009. PES '09.

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T2 - 2009 IEEE Power and Energy Society General Meeting

Y2 - 26 July 2009 through 30 July 2009

ER -

A study on electricity export capability of the μCHP system with spot price

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