Modeling of Decreasing Short-term Marginal Costs and Corresponding Supply Functions of Condensing Power Plants at a Day-Ahead Electricity Market
The paper presents a calculation and an analysis of short-term marginal costs and corresponding supply functions of a condensing power plant. The calculation can be applied in power plant control systems or bidding support software to improve plant efficiency at the day-ahead market. A specific turbine is considered. Mathematical modeling is applied to determine first the short-term marginal costs and then the supply function of a price-taker based on the energy unit energy characteristics. The analysis shows that the short-term marginal costs function of a unit can decrease or can have decreasing segments. In this case, the supply function of a price-taker is not the same as the short-term marginal costs function. It is also shown that the supply function can be undefined for the output below the minimum output of the unit as well as within the range of decreasing short-term marginal costs. The form of the supply function does not correspond to the amount of units in operation.
Библиографическая ссылка
Vasilyev M.. Modeling of Decreasing Short-term Marginal Costs and Corresponding Supply Functions of Condensing Power Plants at a Day-Ahead Electricity Market // Energy Systems Research. Vol.1. No.3. 2018. P.42-46. DOI: 10.25729/esr.2018.03.0005
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