The Impacts of Flexibility Enhancements on the Value of Gas Plant Operations
Abstract:
The rapid increase of renewable generation and its anticipated continued growth requires greater operational flexibility in modern power systems. One of the methods to increase flexibility in the generation side is to enhance existing generators such as combined-cycle natural gas power plants which, are widely used. Potential flexibility upgrades to existing thermal plants include modifications that enable faster ramp rates, increase maximum load levels, decrease minimum load levels, and provide faster and lower cost startup operations. This research analyzes the effect that specific flexibility upgrades have on the operation of existing natural gas power plants and the value associated with these enhancements. In this research, we apply a unit commitment model to analyze the impact that each specific upgrade has on their operational dynamics and profitability from both the system perspective and from the asset owner perspective.
The research publication, The Impacts of Distinct Flexibility Enhancements on the Value and Dynamics of Natural Gas Power Plant Operations, is available on IEEE Xplore as an Early Access paper, The Impacts of Distinct Flexibility Enhancements on the Value and Dynamics of Natural Gas Power Plant Operations | IEEE Journals & Magazine | IEEE Xplore.
Key takeaways:
- Enhancing combined cycle plant flexibility DOES reduce system operator and consumer cost while maintaining system reliability
- Enhancing flexibility DOES increase unit owner net revenue (profit)
- Benefits of flexibility DEPEND on: type of flexibility enhancement, current unit capacity factor, and unit historical usage pattern
- Implementing multiple types of flexibility simultaneously on a given power plant is more valuable than the sum of individual enhancements
- The greater the share of non-dispatchable wind and solar capacity on the grid, the greater the value of combined cycle plant flexibility
- Market designers should consider additional market mechanisms and incentives for existing generators to invest in increased flexibility
Date and Time
Location
Hosts
Registration
- Date: 17 Aug 2021
- Time: 11:45 AM to 01:00 PM
- All times are (GMT-05:00) US/Eastern
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- Atlanta, Georgia
- United States
- Starts 23 July 2021 10:48 AM
- Ends 15 August 2021 10:48 AM
- All times are (GMT-05:00) US/Eastern
- No Admission Charge
Speakers
Anupam Narula
The Impacts of Flexibility Enhancements on the Value of Gas Plant Operations
The rapid increase of renewable generation and its anticipated continued growth requires greater operational flexibility in modern power systems. One of the methods to increase flexibility in the generation side is to enhance existing generators such as combined-cycle natural gas power plants which, are widely used. Potential flexibility upgrades to existing thermal plants include modifications that enable faster ramp rates, increase maximum load levels, decrease minimum load levels, and provide faster and lower cost startup operations. This research analyzes the effect that specific flexibility upgrades have on the operation of existing natural gas power plants and the value associated with these enhancements. In this research, we apply a unit commitment model to analyze the impact that each specific upgrade has on their operational dynamics and profitability from both the system perspective and from the asset owner perspective.
The research publication, The Impacts of Distinct Flexibility Enhancements on the Value and Dynamics of Natural Gas Power Plant Operations, is available on IEEE Xplore as an Early Access paper, The Impacts of Distinct Flexibility Enhancements on the Value and Dynamics of Natural Gas Power Plant Operations | IEEE Journals & Magazine | IEEE Xplore
Biography:
Anupam Narula is the Services Competitiveness Leader for Heavy Duty Product Management, GE Gas Power. His recent focus has been on the value of flexible generation for both system operators and generators as renewable generation increases. Anupam received the B.S. degree in computer engineering from Carnegie Mellon University, M.S.E. degree in electrical engineering from University of Michigan-Dearborn, and M.B.A. from Duke University.
Bob Bellis
The Impacts of Flexibility Enhancements on the Value of Gas Plant Operations
Biography:
Bob Bellis is a Principal Engineer, Customer Application Engineering, GE Gas Power. He has 25+ years of combined cycle power plant controls, digital product management, engineering management, and energy markets experience. Prior to joining GE, Bob was an officer in U.S. Navy serving at the headquarters of the Naval Nuclear Propulsion program. Bob received the B.S. and M.S. degrees in mechanical engineering from MIT, and a Master of Engineering Administration from Virginia Tech.
Agenda
11:30 Check-in and Presentation Technology Check
11:45 Presentation
12:45 Q&A