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Profit Evaluation Model for a Generator Investment in the Wholesale Electricity Market  

Jung, Jung-Won (경성대 전기전자 메카트로닉스공학부)
Publication Information
The Transactions of The Korean Institute of Electrical Engineers / v.56, no.7, 2007 , pp. 1205-1210 More about this Journal
Abstract
Several mechanisms are introduced for the procurement of capacity adequacy. In the competitive electricity market, however, it is a GENCO that makes generation investment decision. A GENCO will invest a new generator when it can get more profit than cost. There requires a model to evaluate profit with respect to a new generation investment. In the view of long-term investment, evaluation of a profit of a generator in the electricity market is quite different from that of short-term operation. In this paper, a new profit-evaluation model is proposed for the long-term generation investment. It can treat the probabilistic characteristics of generators, ie, forced-outage-rates, which affect profit of generators.
Keywords
투자수익모형;도매전력시장;고장정지율;시장청산과정;
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