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"COST OF POWER"
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Currencies, commodities and consumption : measurement and the world economy
\"Currency values, prices, consumption and incomes are at the heart of the economic performance of all countries. In order to make a meaningful comparison between one economy and another, economists routinely make use of purchasing power parity (PPP) exchange rates, but whilst PPP rates are widely used and well understood they take a lot of effort to produce and suffer from publication delays. Currencies, Commodities and Consumption analyses the strengths and weaknesses of two alternatives to PPP. Firstly, the so-called 'Big Mac Index' which uses hamburger prices as a standard of measurement and secondly, a less well known technique which infers incomes across countries based on the proportion of consumption devoted to food. Kenneth Clements uses international macroeconomics, microeconomic theory and econometrics to provide researchers and policy makers with insights into alternatives to PPP rates and make sense of the ongoing instability of exchange rates and commodity prices\"-- Provided by publisher.
Book
Desalinated Water Costs from Steam, Combined, and Nuclear Cogeneration Plants Using Power and Heat Allocation Methods
This work presents a detailed thermo-economic analysis of unit water costs from dual-purpose cogeneration plants. The power levelized cost was first calculated for stand-alone steam, nuclear, and combined-cycle power plants. The cost of energy needed to operate the desalination systems connected to power plants was evaluated based on two different approaches: power- and heat-allocated methods. Numerical models based on the heat and mass balances of the power and desalination plants’ components were developed and validated. Comprehensive and updated data generated using Desaldata libraries were correlated to estimate the capital, labor, overhead, and maintenance costs for different desalination systems. The levelized water cost produced by multi-effect distillation, multi-effect distillation with vapor compression, multi-stage flash, and reverse osmosis systems connected to different power plants was estimated. The impact of various controlling parameters, including the price of natural gas, nuclear power plant installation cost, and the desalination capacity on water cost, was investigated. For all simulated cases, the levelized water cost evaluated using the heat-allocated method was found to be lower by 25–30% compared to that estimated using the power-allocated method. The cost of water produced using reverse osmosis remains below that produced by other desalination technologies. However, using the heat-allocated method to estimate the levelized water cost narrows the gap between the costs of water produced by multi-effect distillation and that produced by seawater reverse osmosis. The results also show that the use of the multi-effect distillation process in a cogeneration configuration rather than multi-effect distillation with vapor compression can result in a lower water cost. The profit analysis shows slight differences between the profit of a power plant connected to a reverse osmosis system and the profit of a power plant connected to a plain multi-effect distillation system.
Journal Article
Africa's power infrastructure : investment, integration, efficiency
This study is a product of the Africa Infrastructure Country Diagnostic (AICD), a project designed to expand the world's knowledge of physical infrastructure in Africa. The AICD provides a baseline against which future improvements in infrastructure services can be measured, making it possible to monitor the results achieved from donor support. It also offers a more solid empirical foundation for prioritizing investments and designing policy reforms in the infrastructure sectors in Africa. The book draws upon a number of background papers that were prepared by World Bank staff and consultants, under the auspices of the AICD. The main findings were synthesized in a flagship report titled Africa's infrastructure: A time for transformation, published in November 2009. Meant for policy makers, that report necessarily focused on the high-level conclusions. It attracted widespread media coverage feeding directly into discussions at the 2009 African union commission heads of state summit on infrastructure.
eBook
Solving the cost minimization problem of optimal reactive power dispatch in a renewable energy integrated distribution system using rock hyraxes swarm optimization
The optimal reactive power dispatch problem optimizes the shunt capacitor bank installation in distribution systems, reducing power loss and also reducing the financial loss for the electricity market associated with power loss. Moreover, the sharing of both active and reactive power from different renewable energy sources like PV and wind in the form of distributed generation also contributes toward reducing power loss and improving the voltage profile of the system. But the installation and maintenance costs associated with these additional set-ups are rarely taken into consideration any optimization problem. This paper aims to reduce the power loss and improve the voltage profile of a radial distribution network with the integration of capacitor banks, PV, and wind energy sources, while taking into account the overall associated cost of each parameter during optimization. The problem is formulated as a novel cost minimization problem aiming to achieve the optimal settings for a life-long capacitor bank-PV-wind integrated distribution network with the least possible installation, operational, and maintenance costs while reducing its power loss significantly for a span of 20 years. The uncertain nature of PV and wind power output has been modeled using the beta probability distribution function and the Weibull probability distribution function, respectively. This unique proposed problem statement of the capacitor bank-PV-wind power integrated distribution network has been tested on the IEEE 33 and IEEE 141 bus systems and solved using the rock hyraxes swarm optimization (RHSO) algorithm. The results were compared with those from other nine well-established techniques, from which it was concluded that the RHSO algorithm has obtained optimal conditions for both systems to operate efficiently. The problem has also been tested on a practical 13-bus 33 kV distribution network in Maharashtra, India, to validate its performance on a practical system. The RHSO has successfully reduced the power loss to almost 17.48% w.r.t. the base case for the practical network while maintaining a minimum overall cost of $51,073,687.7582 for an entire life-span of 20 years.
Journal Article
Globalization, sustainable development, and variation in cost of power plant technologies: A perspective of developing economies
This study evaluates the sustainable power plant cost in the outlook of global power plant efficiency to reduce fossil fuel dependency and greenhouse gas emissions. For this purpose, the Global Change Assessment Model (GCAM) applied for conducting the cost assessment of power zone technologies for all principal electricity generation. This study considers the characteristics of essential factors (cement, price of resources, possible increases in employees, and metals) that affect costs. This study suggests that the cost of electricity-generating technologies significantly affects growth efficiency, reduction in production cost, and improving environmental conditions. It also suggests that the cost of electricity-generating technologies, combined with technology mixture, is the key factor behind replacing existing technology in the electricity sector. EPRI cost assessments expanded by around 30% and 50% during 2015-2016. Factors like competition amongst power plant owners, the ambiguous marketplace, production procedures, and lack of environment-related strategies have resulted in massive environmental degradation in developing economies like Pakistan. Based on empirical findings, this study recommends designing efficient technologies, which would reduce power plant costs and ensure vertical prospects related to environmental conditions in the future.
Journal Article
Beyond crisis
At the end of 2011, the Indian power sector found itself in financial crisis, just a decade after the 2001 bailout of state electricity boards (SEBs) by the central government. Bankrupt state power distribution utilities in several states were unable to pay their bills or repay their debts. Despite the passage of the landmark 2003 Electricity Act and implementation of a broad set of reforms over the past decade, the sector today is looking at another rescue from the center, four times larger than before. This financial rescue scheme amounts to about Rs 1.9 trillion ($42 billion) and was instigated by the nonperforming assets of the banks and other financial institutions. The Electricity Act was envisaged to create independent companies functioning on commercial principles, but they are still far away from that goal. This report presents a diagnostic of the financial and operational performance of segments in the power sector value chain between adoption of the Electricity Act, 2003, and 2011, including analysis of the factors that contributed to the recent crisis. The report focuses on efficiency and productivity, whether performance has improved over time, and which states have emerged as performance leaders. Analysis of this kind is not new or unique, but this report aims to integrate historical performance, the current situation, future projections of the impact of worsening sector finances, and the actions that need to be taken to check the downturn. The report draws primarily from utility data collected by the Power Finance Corporation in successive years on utilities operational and financial performance. The Power Finance Corporation data were collated into a single database with the addition of various operational parameters at the plant level and the utility level from the Central Electricity Authority.
eBook
Re-Defining System LCOE: Costs and Values of Power Sources
The mass introduction of variable renewable energies, including wind and solar photovoltaic, leads to additional costs caused by the intermittency. Many recent studies have addressed these “integration costs,” and proposed novel metrics that replace the traditional metric known as the levelized cost of electricity (LCOE). However, the policy relevance of those metrics remains unclear. In this study, the author investigates and re-defines the concept of system LCOE, referring to prior studies, and proposes concrete methods to estimate them. Average system LCOE allocates the integration cost to each power source, dividing that by the adjusted power output. Marginal system LCOE revises the concept of system LCOE and value-adjusted LCOE proposed by prior studies, to be clearer and more policy-relevant. These metrics are also applied to Japan’s power sector in 2050, suggesting the necessity of aiming for a “well-balanced energy mix” in future power systems with decarbonised power sources.
Journal Article
Africa's ICT infrastructure : building on the mobile revolution
Information and communication technologies (ICTs) have been a remarkable success in Africa. Across the continent, the availability and quality of service have gone up and the cost has gone down. In just 10 years dating from the end of the 1990s mobile network coverage rose from 16 percent to 90 percent of the urban population; by 2009, rural coverage stood at just under 50 percent of the population. Although the performance of Africa's mobile networks over the past decade has been remarkable, the telecommunications sector in the rest of the world has also evolved rapidly. Many countries now regard broadband Internet as central to their long-term economic development strategies, and many companies realize that the use of ICT is the key to maintaining profitability. This book is about that challenge and others. Chapters two and three describe the recent history of the telecommunications market in Africa; they cover such issues as prices, access, the performance of the networks, and the regulatory reforms that have triggered much of the investment. This part of the book compares network performance across the region and tries to explain why some countries have moved so much more quickly than others in providing affordable telecommunications services. Chapter four explores the financial side of the telecommunications revolution in Africa and details how the massive investments have been financed and which companies have most influenced the sector. Chapter five deals with the future of the sector. The final chapter synthesizes the main chapters of the book and presents policy recommendations intended to drive the sector forward.
eBook
Private participation in the Indian power sector
This book reviews the major developments in and the lessons learned from the 21-year (1991-2012) experience with private sector participation (PSP) in the power sector in India. It discusses the political economy context of the policy changes, looks at reform initiatives that were implemented for the generation sector, describes transmission and distribution segments at different points in the evolution of the sector, and concludes with a summary of lessons learned and a suggested way forward. The evolution of private participation in the Indian power sector can be divided into different phases. Phase one was launched with the opening of the generation sector to private investment in 1991. Phase two soon followed - early experiments with state-level unbundling and other reform initiatives, including regulatory reform, culminating in divestiture, and privatization in Orissa and Delhi respectively. Phase three, the passage of the electricity act of 2003 by the central government, followed by a large increase in private entry into generation and forays into transmission and experiments with distribution franchise models in urban and rural areas during the 11th five-year plan (2007-12) period. In phase four, at the start of the 12th five-year plan (2012-17), the sector is seeing a sharp reduction in bid euphoria and greater risk aversion on the part of bidders, who are concerned about access to basic inputs such as fuel and land. In this context, the report is structured as follows: chapter one gives introduction; chapter two presents private sector participation in thermal generation; chapter three presents private sector participation in transmission; chapter four deals with private sector participation in distribution; chapter five deals with private sector participation in the Indian solar energy sector; chapter six deals with financing of the power sector; chapter seven presents emerging issues and proposed approaches for the Indian power sector; and chapter eight give updates.
eBook
Giant Trevally Optimization Approach for Probabilistic Optimal Power Flow of Power Systems Including Renewable Energy Systems Uncertainty
In this study, the Giant Trevally Optimizer (GTO) is employed to solve the probabilistic optimum power flow (P-OPF) issue, considering Renewable Energy Source (RES) uncertainties, achieving notable cost reduction. The objective function is established to minimize the overall generation cost, including the RES cost, which significantly surpassing existing solutions. The uncertain nature of the RES is represented through the employment of a Monte Carlo Simulation (MCS), strengthened by the K-means Clustering approach and the Elbow technique. Various cases are investigated, including various combinations of PV systems, WE systems, and both fixed and fluctuating loads. The study demonstrates that while considering the costs of solar, wind, or both might slightly increase the total generation cost, the cumulative generation cost remains significantly less than the scenario that does not consider the cost of RESs. The superior outcomes presented in this research underline the importance of considering RES costs, providing a more accurate representation of real-world system dynamics and enabling more effective decision making.
Journal Article