Extracting physical power plant parameters from historical behaviour

The information needed for fundamental modelling of the power markets -- the efficiency, start-up, fixed, and variable operating costs of each power plant -- is not publicly available. These parameters are usually estimated by considering the type of technology and the age of a power plant. We prese...

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Bibliographic Details
Published in:arXiv.org 2019-09
Main Authors: Kraljic, David, Troha, Miha, Blaz Sobocan
Format: Article
Language:English
Subjects:
Electricity pricing
Operating costs
Optimization
Parameter estimation
Power efficiency
Power plants
Schedules
Thermal power plants
Unit commitment
Online Access:Get full text
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Summary:The information needed for fundamental modelling of the power markets -- the efficiency, start-up, fixed, and variable operating costs of each power plant -- is not publicly available. These parameters are usually estimated by considering the type of technology and the age of a power plant. We present a method to extract these parameters for thermal power plants on the British electricity market using only the publicly available data. For each power plant, we solve a bilevel optimisation problem, where the inner level solves the Unit Commitment (UC) problem and outputs the optimal schedule given the prices of fuel, emissions, electricity, and the unknown plant parameters. The outer level then optimises over the plant parameters matching the historical production of each plant as closely as possible.
ISSN:2331-8422
DOI:10.48550/arxiv.1909.03661