Financial Analysis of Experimental Releases Conducted at Glen Canyon Dam during Water Year 2015
- Argonne National Lab. (ANL), Argonne, IL (United States)
This report examines the financial implications of experimental flows conducted at the Glen Canyon Dam (GCD) in water year (WY) 2015. It is the seventh report in a series examining the financial implications of experimental flows conducted since the Record of Decision (ROD) was adopted in February 1997 (Reclamation 1996). A report released in January 2011 examined WYs 1997 to 2005 (Veselka et al. 2011); a report released in August 2011 examined WYs 2006 to 2010 (Poch et al. 2011); a report released June 2012 examined WY 2011 (Poch et al. 2012); a report released April 2013 examined WY 2012 (Poch et al. 2013); a report released June 2014 examined WY 2013 (Graziano et al. 2014); and a report released September 2015 examined WY 2014 (Graziano et al. 2015). An experimental release may have either a positive or negative impact on the financial value of energy production. Only one experimental release was conducted at GCD in WY 2015; specifically, a high flow experimental (HFE) release conducted in November 2014. For this experimental release, financial costs of approximately $2.1 million were incurred because the HFE required sustained water releases that exceeded the powerplant’s maximum flow rate. In addition, during the month of the experiment, operators were not allowed to shape GCD power production to either follow firm power customer loads or to respond to market prices. This study identifies the main factors that contribute to HFE costs and examines the interdependencies among these factors. It applies an integrated set of tools to estimate financial impacts by simulating the GCD operations under two scenarios: (1) a baseline scenario that mimics both HFE operations during the experiment and during the rest of the year when it complies with the 1996 ROD operating criteria, and (2) a “without experiments” scenario that is identical to the baseline except it assumes that the HFE did not occur. The Generation and Transmission Maximization (GTMax) model was the main simulation tool used to simulate the dispatch of hydropower plants at GCD and other plants that comprise the Salt Lake City Area Integrated Projects (SLCA/IP). The research team used extensive data sets and historical information on SLCA/IP powerplant characteristics, hydrologic conditions, and Western Area Power Administration’s (WAPA’s) power purchase prices in the modeling process. In addition to estimating the financial impact of the HFE, the team used the GTMax model to gain insights into the interplay among ROD operating criteria, exceptions that were made to criteria to accommodate the experimental releases, and WAPA operating practices.
- Research Organization:
- Argonne National Lab. (ANL), Argonne, IL (United States)
- Sponsoring Organization:
- Western Area Power Administration; USDOE
- DOE Contract Number:
- AC02-06CH11357
- OSTI ID:
- 1342156
- Report Number(s):
- ANL-16/22; 131549
- Country of Publication:
- United States
- Language:
- English
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