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Fuel management strategy of combined cycle power plant under uncertainty | IEEE Conference Publication | IEEE Xplore

Fuel management strategy of combined cycle power plant under uncertainty


Abstract:

This paper addresses the fuel planning problem of a combined cycle power station by optimal allocation of natural gas portfolios in long term fixed contracts and short te...Show More

Abstract:

This paper addresses the fuel planning problem of a combined cycle power station by optimal allocation of natural gas portfolios in long term fixed contracts and short term market. The power producer solves the optimization by a two stage stochastic programming approach and minimizes the expected yearly fuel cost. The stochastic behavior of gas price in the short term market and uncertainty of load are considered in the model. The constraints include the obligation to meet load demand in every scenario and minimum/ maximum off-take limits of natural gas contracts in every time interval of the planning horizon. The risk profile of the power producer is incorporated by constraining the objective function with Conditional Value at Risk (CVaR). A case example of fuel cost minimization of power station is illustrated in this work.
Date of Conference: 03-06 January 2012
Date Added to IEEE Xplore: 03 April 2012
ISBN Information:
Conference Location: Thrissur, India

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