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Title: ORCED: A model to simulate the operations and costs of bulk-power markets

Abstract

Dramatic changes in the structure and operation of US bulk-power markets require new analytical tools. The authors developed the Oak Ridge Competitive Electricity Dispatch (ORCED) model to analyze a variety of public-policy issues related to the many changes underway in the US electricity industry. Such issues include: policy and technology options to reduce carbon emissions from electricity production; the effects of electricity trading between high- and low-cost regions on consumers and producers in both regions; the ability of the owners of certain generating units to exercise market power as functions of the transmission link between two regions and the characteristics of the generating units and loads in each region; and the market penetration of new energy-production and energy-use technologies and the effects of their adoption on fuel use, electricity use and costs, and carbon emissions. ORCED treats two electrical systems connected by a single transmission link ORCED uses two load-duration curves to represent the time-varying electricity consumption in each region. The two curves represent peak and offpeak seasons. User specification of demand elasticities permits ORCED to estimate the effects of changes in electricity price, both overall and hour by hour, on overall electricity use and load shapes. ORCED represents themore » electricity supply in each region with 26 generating units. The two regions are connected by a single transmission link. This link is characterized by its capacity (MW), cost ({cents}/kWh), and losses (%). This report explains the inputs to, outputs from, and operation of ORCED. It also presents four examples showing applications of the model to various public-policy issues related to restructuring of the US electricity industry.« less

Authors:
;
Publication Date:
Research Org.:
Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)
Sponsoring Org.:
USDOE Assistant Secretary for Energy Efficiency and Renewable Energy, Washington, DC (United States)
OSTI Identifier:
656876
Report Number(s):
ORNL/CON-464
ON: DE98058110; BR: 42WJ06901; TRN: AHC29817%%436
DOE Contract Number:  
AC05-96OR22464
Resource Type:
Technical Report
Resource Relation:
Other Information: PBD: Jun 1998
Country of Publication:
United States
Language:
English
Subject:
24 POWER TRANSMISSION AND DISTRIBUTION; INTERCONNECTED POWER SYSTEMS; POWER TRANSMISSION LINES; O CODES; COMPUTERIZED SIMULATION; ENVIRONMENTAL POLICY; MARKET; ECONOMICS

Citation Formats

Hadley, S, and Hirst, E. ORCED: A model to simulate the operations and costs of bulk-power markets. United States: N. p., 1998. Web. doi:10.2172/656876.
Hadley, S, & Hirst, E. ORCED: A model to simulate the operations and costs of bulk-power markets. United States. https://doi.org/10.2172/656876
Hadley, S, and Hirst, E. 1998. "ORCED: A model to simulate the operations and costs of bulk-power markets". United States. https://doi.org/10.2172/656876. https://www.osti.gov/servlets/purl/656876.
@article{osti_656876,
title = {ORCED: A model to simulate the operations and costs of bulk-power markets},
author = {Hadley, S and Hirst, E},
abstractNote = {Dramatic changes in the structure and operation of US bulk-power markets require new analytical tools. The authors developed the Oak Ridge Competitive Electricity Dispatch (ORCED) model to analyze a variety of public-policy issues related to the many changes underway in the US electricity industry. Such issues include: policy and technology options to reduce carbon emissions from electricity production; the effects of electricity trading between high- and low-cost regions on consumers and producers in both regions; the ability of the owners of certain generating units to exercise market power as functions of the transmission link between two regions and the characteristics of the generating units and loads in each region; and the market penetration of new energy-production and energy-use technologies and the effects of their adoption on fuel use, electricity use and costs, and carbon emissions. ORCED treats two electrical systems connected by a single transmission link ORCED uses two load-duration curves to represent the time-varying electricity consumption in each region. The two curves represent peak and offpeak seasons. User specification of demand elasticities permits ORCED to estimate the effects of changes in electricity price, both overall and hour by hour, on overall electricity use and load shapes. ORCED represents the electricity supply in each region with 26 generating units. The two regions are connected by a single transmission link. This link is characterized by its capacity (MW), cost ({cents}/kWh), and losses (%). This report explains the inputs to, outputs from, and operation of ORCED. It also presents four examples showing applications of the model to various public-policy issues related to restructuring of the US electricity industry.},
doi = {10.2172/656876},
url = {https://www.osti.gov/biblio/656876}, journal = {},
number = ,
volume = ,
place = {United States},
year = {1998},
month = {6}
}