Feasibility of CHP-plants with thermal stores in the German spot market

Giedre Streckiene, Vytautas Martinaitis, Anders N. Andersen, Jonas Katz

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Abstract

The European Energy Exchange (EEX) day ahead spot market for electricity in Germany shows significant variations in prices between peak and off-peak hours. Being able to shift electricity production from offpeak hours to peak hours improves the profit from CHP-plant operation significantly. Installing a big thermal store at a CHP-plant makes it possible to shift production of electricity and heat to hours where electricity prices are highest especially on days with low heat demand. Consequently, these conditions will have to influence the design of new CHP-plants. In this paper, the optimal size of a CHP-plant with thermal store under German spot market conditions is analyzed. As an example the possibility to install small size CHP-plant instead of only boilers at a Stadtwerke delivering 30,000 MWh-heat for district heating per year is examined using the software energyPRO. It is shown that, given the economic and technical assumptions made, a CHP-plant of 4 MW-el with a thermal store participating in the spot market will be the most feasible plant to build. A sensitivity analysis shows to which extent the optimal solution will vary by changing the key economic assumptions. © 2009 Elsevier Ltd. All rights reserved.
Original languageEnglish
JournalApplied Energy
Volume86
Pages (from-to)2308–2316
ISSN0306-2619
DOIs
Publication statusPublished - 2009
Externally publishedYes

Keywords

  • Cogeneration
  • CHP
  • Feasibility study
  • Spot market
  • Thermal store

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