scholarly journals Hourly modelling of Thermal Hydrogen electricity markets

Clean Energy ◽  
2020 ◽  
Vol 4 (3) ◽  
pp. 270-287
Author(s):  
Jared Moore ◽  
Noah Meeks
Keyword(s):  
Electricity Markets ◽  
Power Plants ◽  
Hybrid Electric Vehicles ◽  
Renewable Electricity ◽  
Electricity Prices ◽  
Heating Systems ◽  
Electric Transmission ◽  
Capacity Markets ◽  
Key Technologies ◽  
Transmission And Distribution

Abstract The hourly operation of Thermal Hydrogen electricity markets is modelled. The economic values for all applicable chemical commodities are quantified (syngas, ammonia, methanol and oxygen) and an hourly electricity model is constructed to mimic the dispatch of key technologies: bi-directional power plants, dual-fuel heating systems and plug-in fuel-cell hybrid electric vehicles. The operation of key technologies determines hourly electricity prices and an optimization model adjusts the capacity to minimize electricity prices yet allow all generators to recover costs. We examine 12 cost scenarios for renewables, nuclear and natural gas; the results demonstrate emissions-free, ‘energy-only’ electricity markets whose supply is largely dominated by renewables. The economic outcome is made possible in part by seizing the full supply-chain value from electrolysis (both hydrogen and oxygen), which allows an increased willingness to pay for (renewable) electricity. The wholesale electricity prices average $25–$45/MWh, or just slightly higher than the assumed levelized cost of renewable energy. This implies very competitive electricity prices, particularly given the lack of need for ‘scarcity’ pricing, capacity markets, dedicated electricity storage or underutilized electric transmission and distribution capacity.

Comparing Flexible CO2 Capture in Gas- and Coal-Dominated Electricity Markets

2011 ◽  
Author(s):  
John R. Fyffe ◽  
Stuart M. Cohen ◽  
Michael E. Webber
Keyword(s):  
Natural Gas ◽  
Co2 Emissions ◽  
Co2 Capture ◽  
Electricity Markets ◽  
Power Plants ◽  
Electricity Price ◽  
Economic Viability ◽  
Electricity Prices ◽  
Modeling Framework ◽  
Co2 Capture Systems

Coal-fired power plants are a source of inexpensive, reliable electricity for many countries. Unfortunately, their high carbon dioxide (CO2) emissions rates contribute significantly to global climate change. With the likelihood of future policies limiting CO2 emissions, CO2 capture and sequestration (CCS) could allow for the continued use of coal while low- and zero-emission generation sources are developed and implemented. This work compares the potential impact of flexibly operating CO2 capture systems on the economic viability of using CCS in gas- and coal-dominated electricity markets. The comparison is made using a previously developed modeling framework to analyze two different markets: 1) a natural-gas dominated market (the Electric Reliability Council of Texas, or ERCOT) and 2) a coal-dominated market (the National Electricity Market, or NEM in Australia). The model uses performance and economic parameters for each power plant to determine the annual generation, CO2 emissions, and operating profits for each plant for specified input fuel prices and CO2 emissions costs. Previous studies of ERCOT found that flexible CO2 capture operation could improve the economic viability of coal-fired power plants with CO2 capture when there are opportunities to reduce CO2 capture load and increase electrical output when electricity prices are high. The model was used to compare the implications of using CO2 capture systems in the two electricity systems under CO2 emissions penalties from 0–100 US dollars per metric ton of CO2. Half the coal-fired power plants in each grid were selected to be considered for a CO2 capture retrofit based on plant efficiency, whether or not SO2 scrubbers are already installed on the plant, and the plant’s proximity to viable sequestration sites. Plants considered for CO2 capture systems are compared with and without inflexible CO2 capture as well as with two different flexible operation strategies. With more coal-fired power plants being dispatched as the marginal generator and setting the electricity price in the NEM, electricity prices increase faster due to CO2 prices than in ERCOT where natural gas-plants typically set the electricity price. The model showed moderate CO2 emissions reductions in ERCOT with CO2 capture and no CO2 price because increased costs at coal-fired power plants led to reduced generation. Without CO2 prices, installing CO2 capture on coal-fired power plants resulted in moderately reduced CO2 emissions in ERCOT as the coal-fired power plants became more expensive and were replaced with less expensive natural gas-fired generators. Without changing the makeup of the plant fleet in NEM, a CO2 price would not currently promote significant replacement of coal-fired power plants because there is minimal excess capacity with low CO2 emissions rates that can displace existing coal-fired power plants. Additionally, retrofitting CO2 capture onto half of the coal-based fleet in NEM did not reduce CO2 emissions significantly without CO2 costs being implemented because the plants with capture become more expensive and were replaced by the coal-fired power plants without CO2 capture. Operating profits at NEM capture plants increased as CO2 price increased much faster than capture plants in ERCOT. The higher rate of increasing profits for plants in NEM is due to the marginal generators in NEM being coal-based facilities with higher CO2 emissions penalties than the natural gas-fired facilities that set electricity prices in ERCOT. Overall, coal-fired power plants were more profitable with CO2 capture systems than without in both ERCOT and NEM when CO2 prices were higher than USD25/ton.

Kapitalkosten und Kraftwerksinvestitionen bei zunehmender Einspeisung aus erneuerbaren Energien – Die Diskussion um Kapazitätsmärkte

2011 ◽  
Vol 60 (1) ◽  
Author(s):  
Gert Brunekreeft ◽  
Roland Meyer
Keyword(s):  
Electricity Markets ◽  
Power Supply ◽  
Power Plants ◽  
Peak Load ◽  
High Price ◽  
Fixed Costs ◽  
Capacity Markets ◽  
Short Run ◽  
Efficient Level ◽  
Price Spikes

AbstractThe increasing share of renewables in generation leads to a structural change in electricity markets. As the utilization of conventional generators decreases in the short run, fixed costs of those power plants have to be recovered through high price spikes in times of scarce capacities. Moreover, for the longer run, given the technological peculiarities of power supply, the price spikes may not be strong enough to induce adequate capacity investments to ensure an efficient level of supply security. A solution may be to complement the energy-only markets by capacity markets. The latter provide revenues not only for the electricity actually sold but also for available capacity in order to reduce the utilisation risk, in particular for peak load plants that may be dispatched only for a small fraction of the time. Such an approach requires substantial reform of market design though.

Fostering Renewable Electricity Markets in North America

2007 ◽  
Author(s):  
Meredith Windgate ◽  
Jan Hamrin ◽  
Claudio Alatorre
Keyword(s):  
North America ◽  
Electricity Markets ◽  
Renewable Electricity

scholarly journals Electricity Markets during the Liberalization: The Case of a European Union Country

Energies ◽  
2021 ◽  
Vol 14 (14) ◽  
pp. 4317
Author(s):  
Štefan Bojnec ◽  
Alan Križaj
Keyword(s):  
Electricity Markets ◽  
Electricity Market ◽  
Renewable Energy Sources ◽  
Primary Energy ◽  
Lessons Learned ◽  
Policy Implications ◽  
Daily Maximum ◽  
Energy Prices ◽  
Electricity Prices ◽  
Electricity Power

This paper analyzes electricity markets in Slovenia during the specific period of market deregulation and price liberalization. The drivers of electricity prices and electricity consumption are investigated. The Slovenian electricity markets are analyzed in relation with the European Energy Exchange (EEX) market. Associations between electricity prices on the one hand, and primary energy prices, variation in air temperature, daily maximum electricity power, and cross-border grid prices on the other hand, are analyzed separately for industrial and household consumers. Monthly data are used in a regression analysis during the period of Slovenia’s electricity market deregulation and price liberalization. Empirical results show that electricity prices achieved in the EEX market were significantly associated with primary energy prices. In Slovenia, the prices for daily maximum electricity power were significantly associated with electricity prices achieved on the EEX market. The increases in electricity prices for households, however, cannot be explained with developments in electricity prices on the EEX market. As the period analyzed is the stage of market deregulation and price liberalization, this can have important policy implications for the countries that still have regulated and monopolized electricity markets. Opening the electricity markets is expected to increase competition and reduce pressures for electricity price increases. However, the experiences and lessons learned among the countries following market deregulation and price liberalization are mixed. For industry, electricity prices affect cost competitiveness, while for households, electricity prices, through expenses, affect their welfare. A competitive and efficient electricity market should balance between suppliers’ and consumers’ market interests. With greening the energy markets and the development of the CO2 emission trading market, it is also important to encourage use of renewable energy sources.

scholarly journals Model Predictive Control Strategies to Activate the Energy Flexibility for Zones with Hydronic Radiant Systems

Energies ◽  
2021 ◽  
Vol 14 (4) ◽  
pp. 1195
Author(s):  
Ali Saberi Derakhtenjani ◽  
Andreas K. Athienitis
Keyword(s):  
Control Strategies ◽  
High Price ◽  
Electricity Prices ◽  
Peak Demand ◽  
Heating Systems ◽  
Electrical Grid ◽  
Demand Reduction ◽  
The Cost ◽  
Floor System ◽  
Radiant Floor Heating

This paper presents control strategies to activate energy flexibility for zones with radiant heating systems in response to changes in electricity prices. The focus is on zones with radiant floor heating systems for which the hydronic pipes are located deep in the concrete and, therefore, there is a significant thermal lag. A perimeter zone test-room equipped with a hydronic radiant floor system in an environmental chamber is used as a case study. A low order thermal network model for the perimeter zone, validated with experimental measurements, is utilized to study various control strategies in response to changes in the electrical grid price signal, including short term (nearly reactive) changes of the order of 10–15 min notice. An index is utilized to quantify the building energy flexibility with the focus on peak demand reduction for specific periods of time when the electricity prices are higher than usual. It is shown that the developed control strategies can aid greatly in enhancing the zone energy flexibility and minimizing the cost of electricity and up to 100% reduction in peak power demand and energy consumption is attained during the high-price and peak-demand periods, while maintaining acceptable comfort conditions.

Developing an Integrated Energy System Interface for Electricity-Hydrogen Hybrid Nuclear Operations

2020 ◽  
Vol 64 (1) ◽  
pp. 92-96
Author(s):  
Thomas A. Ulrich ◽  
Roger Lew ◽  
Ronald L. Boring ◽  
Torrey Mortenson ◽  
Jooyoung Park ◽  
...  
Keyword(s):  
Human Factors ◽  
Electricity Markets ◽  
Nuclear Power ◽  
Power Plants ◽  
Energy Systems ◽  
Energy System ◽  
Human Factors Engineering ◽  
Engineering Project ◽  
Early Integration ◽  
Integrated Energy Systems

Nuclear power plants are looking towards integrated energy systems to address the challenges faced by increasing competition from renewable energy and cheap natural gas in wholesale electricity markets. Electricity-hydrogen hybrid operations is one potential technology being explored. As part of this investigation a human factors team was integrated into the overall engineering project to develop a human system interface (HSI) for a novel system to extract steam for a coupled hydrogen production process. This paper presents the process used to perform the nuclear specific human factors engineering required to develop the HSI for this novel and unprecedented system. Furthermore, the early integration of the human factors team and the meaningful improvements to the engineering of the system itself in addition to the successful development of the HSI for this particular application are described. Lastly, the HSI developed is presented to demonstrate the culmination of the process and disseminate a potential HSI design for electricity-hydrogen hybrid operations that may be useful for others exploring similar integrated energy systems concepts.

scholarly journals Decentralized Prosumer-Centric P2P Electricity Market Coordination with Grid Security

Energies ◽  
2021 ◽  
Vol 14 (15) ◽  
pp. 4665
Author(s):  
Duarte Kazacos Winter ◽  
Rahul Khatri ◽  
Michael Schmidt
Keyword(s):  
Electricity Markets ◽  
Electricity Market ◽  
Power Flow ◽  
Power Plants ◽  
Optimal Power Flow ◽  
Free Market ◽  
Economic Value ◽  
New Paradigm ◽  
Grid Security ◽  
Virtual Power Plants

The increasing number of prosumers and the accompanying greater use of decentralised energy resources (DERs) bring new opportunities and challenges for the traditional electricity systems and the electricity markets. Microgrids, virtual power plants (VPPs), peer-to-peer (P2P) trading and federated power plants (FPPs) propose different schemes for prosumer coordination and have the potential of becoming the new paradigm of electricity market and power system operation. This paper proposes a P2P trading scheme for energy communities that negotiates power flows between participating prosumers with insufficient renewable power supply and prosumers with surplus supply in such a way that the community welfare is maximized while avoiding critical grid conditions. For this purpose, the proposed scheme is based on an Optimal Power Flow (OPF) problem with a Multi-Bilateral Economic Dispatch (MBED) formulation as an objective function. The solution is realized in a fully decentralized manner on the basis of the Relaxed Consensus + Innovations (RCI) algorithm. Network security is ensured by a tariff-based system organized by a network agent that makes use of product differentiation capabilities of the RCI algorithm. It is found that the proposed mechanism accurately finds and prevents hazardous network operations, such as over-voltage in grid buses, while successfully providing economic value to prosumers’ renewable generation within the scope of a P2P, free market.

Can Sustainable Ammonia Synthesis Pathways Compete with Fossil-fuel Based Haber-Bosch Processes?

2021 ◽  
Author(s):  
Miao Wang ◽  
M. A. Khan ◽  
Imtinan Mohsin ◽  
Joshua Wicks ◽  
Alexander H. Ip ◽  
...  
Keyword(s):  
Fossil Fuel ◽  
Ammonia Synthesis ◽  
Renewable Electricity ◽  
Electricity Prices ◽  
Fuels And Chemicals ◽  
Alternative Routes ◽  
Sustainable Fuels

As renewable electricity prices continue to diminish, interest grows in alternative routes for the synthesis of sustainable fuels and chemicals, including ammonia. Considering demand for fertilizers, as well as for...

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