Economic dispatch model considering policy-guided carbon trading mechanisms

Climate change has become one of the most serious problems nowadays. Electric power industry, as a major emitter of greenhouse gas CO2, has been demanded to develop in an environmental friendly way. This paper presents economic dispatch model considering carbon reduction policies, as well as basic data analysis to determine the impact of policy-guided carbon emission reduction strategies on power system operation and dispatch. Carbon reduction mechanisms are simulated and discussed in different case studies. By analyzing the effect of different carbon reduction policies, this model can be used to help regulators with decision making and system operators with economical and environmental operation.

[1]  F. D. Galiana,et al.  Emission allowances auction for an oligopolistic electricity market operating under cap-and-trade , 2010 .

[2]  Yaowu Wu,et al.  A Model for Power System Interconnection Planning Under Low-Carbon Economy With CO$_{2}$ Emission Constraints , 2011, IEEE Transactions on Sustainable Energy.

[3]  F. Galiana,et al.  On gaming in electricity markets under cap-and-trade , 2009, 2009 IEEE PES/IAS Conference on Sustainable Alternative Energy (SAE).

[4]  T. Levin,et al.  Lowest cost path to meeting electricity demand at the state level: Implications of carbon cap-and-trade , 2010, 2010 IEEE Energy Conversion Congress and Exposition.

[5]  A.C.G. Melo,et al.  The Carbon Market Incremental Payoff in Renewable Electricity Generation Projects in Brazil: A Real Options Approach , 2011 .

[6]  Katherine Begg,et al.  The Kyoto Protocol International Climate Policy for the 21st Century , 2001 .

[7]  Chongqing Kang,et al.  Real option analysis on carbon capture power plants under flexible operation mechanism , 2010, IEEE PES General Meeting.

[8]  G. Joos,et al.  Generalized Estimation of Average Displaced Emissions by Wind Generation , 2007, IEEE Transactions on Power Systems.

[9]  Chongqing Kang,et al.  Modeling Flexible Operation Mechanism of $\hbox{CO}_{2}$ Capture Power Plant and Its Effects on Power-System Operation , 2010, IEEE Transactions on Energy Conversion.

[10]  Zuwei Yu,et al.  An enhanced model of capacity expansion with CO2 cap-and-trade and EOR CO2 re-emergence , 2008, 2008 IEEE Power and Energy Society General Meeting - Conversion and Delivery of Electrical Energy in the 21st Century.

[11]  E. Delarue,et al.  A Mixed Integer Linear Programming Model for a Pulverized Coal Plant With Post-Combustion Carbon Capture , 2012, IEEE Transactions on Power Systems.