DocumentCode
1478649
Title
The variance of production cost
Author
Rau, Narayan S. ; Hegazy, Youssef
Author_Institution
Nat. Regulatory Res. Inst., Ohio State Univ., Columbus, OH, USA
Volume
5
Issue
2
fYear
1990
fDate
5/1/1990 12:00:00 AM
Firstpage
367
Lastpage
375
Abstract
A procedure to calculate the mean and the variance of energy production and its cost is outlined. The method uses the probability density function of hourly loads and machine outage representations. The results indicate that the variance of the cost is a very small percent of the mean. The method of modeling of the load has no effect on the mean of cost. However, the method of modeling the load has a great bearing on the value of the variance obtained. The effects of load modeling and the implicit assumptions regarding the outage characteristics of the machine on the variance of production cost are discussed
Keywords
electric power generation; load (electric); energy production cost; hourly loads; load modeling; machine outage; probability density function; Costs; Dispatching; Load modeling; Power engineering and energy; Power system modeling; Probability density function; Probability distribution; Production; Samarium; Systems engineering and theory;
fLanguage
English
Journal_Title
Power Systems, IEEE Transactions on
Publisher
ieee
ISSN
0885-8950
Type
jour
DOI
10.1109/59.54542
Filename
54542
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