Optimal production allocation of load-following nuclear units in an electricity market in the early stages of competition

Maria Lykidi () and Pascal Gourdel ()
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Maria Lykidi: CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, UP1 UFR02 - Université Paris 1 Panthéon-Sorbonne - École d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne
Pascal Gourdel: CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement

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Abstract: Electricity systems are quitting monopoly for an operation framed by competitive markets. It therefore questions how the operation of nuclear plants capable of load-following is expected to change at the transition stage in a challenging economic environment for nuclear producers given the high penetration of renewables and the increase of nuclear production costs for renovation and safety reasons. To answer this question, we are focusing on a month-by-month management horizon of the nuclear fuel given the technico-economical features of the operation of flexible nuclear plants. The resolution of the month-by-month profit maximization problem contributes to identify potential difficulties and limits of production optimization and provides us with an equilibrium which proves the existence of an optimal production path. This benchmark could serve as a reference providing valuable insight on the resolution of more complex optimisation problems.

Keywords: Seasonal demand; Electricity market; Load-following units; Nuclear fuel stock; Competition with reservoir; Month-by-month profit maximization (search for similar items in EconPapers)
Date: 2021-11
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Published in Energy Systems, 2021, 12, pp.1047-1080. ⟨10.1007/s12667-020-00375-y⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02866885

DOI: 10.1007/s12667-020-00375-y

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