Computation of power generation system production costs

Author

Mazumdar, Mainak

Author_Institution

Dept. of Ind. Eng., Pittsburgh Univ., PA, USA

fYear

1995

fDate

7-12 May 1995

Firstpage

560

Lastpage

565

Abstract

This paper considers the problem of computing the expected value of generating system production costs. First, using a stochastic model for the frequency and duration of generation outage, it provides an efficient Monte Carlo procedure for the evaluation of the Baleriaux formula. Secondly, it points out the need for using a stochastic model for estimating production costs with time-dependent constraints via Monte Carlo. Lastly, it considers a model where the chronological load also has a random component and obtains an expression for expected production costs for this situation

Keywords

Monte Carlo methods; costing; economics; electric power generation; stochastic processes; Baleriaux formula; Monte Carlo procedure; chronological load; expected production costs; generation outage duration; generation outage frequency; power generation system production costs; random component; stochastic model; time-dependent constraints; Costing; Costs; Frequency estimation; Monte Carlo methods; Power engineering computing; Power generation; Power system modeling; Production systems; Random variables; Stochastic processes;

fLanguage

English

Publisher

ieee

Conference_Titel

Power Industry Computer Application Conference, 1995. Conference Proceedings., 1995 IEEE

Conference_Location

Salt Lake City, UT

Print_ISBN

0-7803-2663-6

Type

conf

DOI

10.1109/PICA.1995.515292

Filename

515292