Methodology to analyze combined heat and power plant operation considering electricity reserve market opportunities

This paper presents a methodology to promote the operation of combined heat and power (CHP) power plant in the liberalized energy markets. The methodology considers a combination of marketplaces available to the power plant for its end products heat and electrical power, with a special reference to...

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Bibliographic Details
Published in:Energy (Oxford) 2017-05, Vol.127, p.408-418
Main Authors: Haakana, Juha, Tikka, Ville, Lassila, Jukka, Partanen, Jarmo
Format: Article
Language:English
Subjects:
Cogeneration
Combined heat and power
Electric power
Electric power generation
Electric power plants
Electricity
Electricity markets
Electricity pricing
Energy
Energy industry
Frequency containment
Heat
Markets
Methodology
Power plant operation
Power plants
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Summary:This paper presents a methodology to promote the operation of combined heat and power (CHP) power plant in the liberalized energy markets. The methodology considers a combination of marketplaces available to the power plant for its end products heat and electrical power, with a special reference to electricity reserve market opportunities. A result of the paper is a daily operation sequence to analyze the hourly operation in the heat and electricity markets. The proposed methodology is tested with price data of the respective energy and power markets between years 2013 and 2015. •An electricity market offer methodology of a combined heat and power (CHP) plant operator.•Deployment of the electrical power capacity of CHP for system balancing.•Feasibility study of CHP participation in the electricity reserve market.
ISSN:0360-5442
1873-6785
DOI:10.1016/j.energy.2017.03.134