Reliability in Multy-Regional Power Systems - Capacity Adequacy and the Role of Interconnectors

Simeon Hagspiel, Andreas Knaut and Jakob Peter
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Simeon Hagspiel: Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)

No 2017-7, EWI Working Papers from Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)

Abstract: Based upon probabilistic reliability metrics, we develop an optimization model to determine the efficient amount and location of firm generation capacity to achieve reliability targets in multiregional electricity systems. A particular focus lies on the representation and contribution of transmission capacities as well as variable renewable resources. Calibrating our model with a comprehensive dataset for Europe, we find that there are substantial benefits from regional cooperation. The amount of firm generation capacity to meet a perfectly reliable system could be reduced by 32.4GW (i.e., 6.1 %) compared to an isolated regional approach, which translates to savings of 12.9 Bn Euro when being valued with typical investment costs of an open-cycle gas turbine. Interconnectors contribute in both directions, with capacity values up to their technical maximum of close to 200 %, while wind power contributions are in the range of 3.8 - 29.5 %. Furthermore, we find that specific reliability targets heavily impact the efficient amount and distribution of reliable capacity as well as the contribution of individual technologies, and should therefore be chosen with care.

Keywords: Reliability of supply; Capacity Adequacy; Multi-Regional Power System; Interconnector; Variable Renewable Energy (search for similar items in EconPapers)
JEL-codes: C61 C63 D47 L50 Q42 Q48 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2017-08-09, Revised 2018-06-29
New Economics Papers: this item is included in nep-ene and nep-reg
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:ris:ewikln:2017_007

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