Evaluating the cost of emissions in a pool-based electricity market
Date
2021Language
en
Keyword
Abstract
This paper proposes a methodology that quantifies the impact of emissions cost on the electricity price, the generation scheduling outcome, and the overall emissions in a pool-based electricity market. It employs a mid-term (yearly) generation scheduling model, by sequentially solving a Day-Ahead Scheduling problem, in which power plants internalize their emissions cost in the energy offers that they submit to the day-ahead market. It further explores several scenarios with respect to gas and carbon prices, as well as the realization of random outages that affect the availability of the generation units. An illustration on an instance of the Greek electricity market during the European Union Emissions Trading Scheme Phase III indicates that: (i) A carbon price equal to 30 €/tCO2e combined with low gas prices results in a 18.7% reduction of CO2 emissions, due to the substitution of lignite units by gas units in the energy generation mix. (ii) An increase in the carbon price by 1 €/tCO2e results in an increase of the weighted average electricity price ranging from 0.52 to 0.61 €/MWh. (iii) The average pass-through rate of the carbon costs onto the demand-side payments for carbon prices up to 15 €/tCO2e is close to 60%. © 2021 Elsevier Ltd
Collections
Related items
Showing items related by title, author, creator and subject.
-
Impact of emissions cost on the mid-term generation scheduling in the Greek Electricity Market
Andrianesis, P.; Liberopoulos, G.; Biskas, P. (2010)The EU Emissions Trading Scheme, Europe's main mechanism for implementing EU climate policy, is driving thermal electricity generation units to incorporate their emissions cost into their variable costs. In this paper, we ... -
Optimal Web Page Download Scheduling Policies for Green Web Crawling
Hatzi V., Cambazoglu B.B., Koutsopoulos I. (2016)A web crawler is responsible for discovering and downloading new pages on the Web as well as refreshing previously downloaded pages. During these operations, the crawler issues a large number of HTTP requests to web servers. ... -
Online Algorithms for the Interval Scheduling Problem in the Cloud: Affinity Pair Threshold Based Approaches
Oikonomou P., Tziritas N., Loukopoulos T., Theodoropoulos G., Hanai M., Khan S.U. (2022)In the interval scheduling problem, jobs have known start and end times (referred to as job intervals) and must be assigned to processing nodes for their whole duration. Although the problem originally stems from the ...