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ID: 122710

Impact of electricity storage on wholesale electricity prices / Nyamdash, Batsaikhan; Denny, Eleanor

Nyamdash, Batsaikhan	Journal Article
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Publication

2013.

Summary/Abstract

This paper analyzes the impact of electricity storage on the production cost of a power system and the marginal cost of electricity (electricity price) using a unit commitment model. Also, real world data has been analyzed to verify the effect of storage operation on the electricity price using econometric techniques. The unit commitment model found that the deployment of a storage system reduces the fuel cost of the power system but increases the average electricity price through its effect on the power system operation. However, the reduction in the production cost was found to be less than the increase in the consumer's cost of electricity resulting in a net increase in costs due to storage. Different storage and CO2 price scenarios were investigated to study the sensitivity of these results. The regression analysis supports the unit commitment results and finds that the presence of storage increases average wholesale electricity prices for the case study system.

Key Words

Electricity Price ; Electricity Storage ; Production Cost

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ID: 099345

Viability of balancing wind generation with large scale energy / Nyamdash, Batsaikhan; Denny, Eleanor; O'Malley, Mark

Nyamdash, Batsaikhan	Journal Article
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Publication

2010.

Summary/Abstract

This paper studies the impact of combining wind generation and dedicated large scale energy storage on the conventional thermal plant mix and the CO2 emissions of a power system. Different strategies are proposed here in order to explore the best operational strategy for the wind and storage system in terms of its effect on the net load. Furthermore, the economic viability of combining wind and large scale storage is studied. The empirical application, using data for the Irish power system, shows that combined wind and storage reduces the participation of mid-merit plants and increases the participation of base-load plants. Moreover, storage negates some of the CO2 emissions reduction of the wind generation. It was also found that the wind and storage output can significantly reduce the variability of the net load under certain operational strategies and the optimal strategy depends on the installed wind capacity. However, in the absence of any supporting mechanism none of the storage devices were economically viable when they were combined with the wind generation on the Irish power system.

Key Words

Profitability ; Wind and Energy Storage ; Plant Mix

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