Variance of power generating system production costs

Journal Article · Mon May 01 00:00:00 EDT 1989 · IEEE Trans. Power Syst.; (United States)

DOI:https://doi.org/10.1109/59.193841· OSTI ID:6261698

Mazumdar, M; Yin, C K

Production costing models currently used in the electric power industry provide information on the expected energy produced by the generating units within a given system and the expected production costs. They do not give information on the extent of fluctuation of these costs. Using the Baleriaux framework for production costs, this paper provides formulas for computing the variance of the unit energy produced and the variance of the system production costs. Numerical results show that the coefficient of variation of these quantities can be quite large thus highlighting the need for considering variances in addition to the expected values in production cost models.

• Research Organization: Univ. of Pittsburgh, Pittsburgh, PA (US); Westinghouse Electric Corp., Pittsburgh, PA (US)
• OSTI ID: 6261698
• Journal Information: IEEE Trans. Power Syst.; (United States), Journal Name: IEEE Trans. Power Syst.; (United States) Vol. 4:2; ISSN ITPSE
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290100 -- Energy Planning & Policy-- Energy Analysis & Modeling
296000* -- Energy Planning & Policy-- Electric Power
COMPUTER CALCULATIONS
COST
ELECTRIC POWER INDUSTRY
ENERGY MODELS
INDUSTRY
NUMERICAL SOLUTION
PRODUCTIVITY
VARIATIONS