INTERNATIONAL ENERGY POLICY INSTITUTE
The International Energy Policy Institute (IEPI) was created to address key policy issues in the mineral, energy and resources industries through intensive and innovative research.
MULLARD SPACE SCIENCE LABORATORY
The Mullard Space Science Laboratory (MSSL) is a world-leading research organisation delivering a broad science programme that is underpinned by a strong capability in space science instrumentation, space-domain engineering, space medicine, systems engineering and project management.
UCL Australia creates a resources optimisation model for electricity system in South Australia
2 August 2013
Professor Anthony Owen, Emeritus Professor of Energy Economics at the International Energy Policy Institute, University College London, Australia, presented at the 32nd IAEE North American Conference in Anchorage, Alaska on:
‘An Optimal Portfolio of New Power Generation Technologies: An illustration for South Australia’.
Overview of the presentation
The levelised cost of generating electricity is the conventional methodology for comparing the individual MWh cost of a range of electricity generating technologies for new entrants. However, for practical purposes it is necessary to apply this methodology in the context of the existing technology portfolio in order to achieve least cost expansion planning. In addition, for intermittent technologies the value of the power plant will depend on the extent to which it can provide electricity during the high price “peak” periods. Further, the electricity system may value dispatchable power plants that can respond quickly to unpredictable changes in demand as well as maintaining the reliability of the system on a least-cost basis.
This study develops a resources optimisation model for the electricity system in South Australia (SA), which is one of five interconnected regions that form Australia’s National Electricity Market (NEM), under a range of assumptions regarding fuel and carbon prices in the context of feasible power generation technologies over the next 20 years.
About the speaker
Prof. Owen is Emeritus Professor of Energy Economics at UCL Australia’s International Energy Policy Institute.
Ms Ntasha Berry graduated from University College London, Australia in 2012 (MSc in Energy and Resources: Management). She was awarded the Torrens Prize for academic achievement.