Modelling start-up costs of multiple technologies in electricity markets |
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Authors: | Ludwig Kuntz Felix Müsgens |
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Institution: | (1) Faculty of Management, Economics and Social Science, University of Cologne, Albertus-Magnus-Platz, 50923 Cologne, Germany |
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Abstract: | This paper deals with the dispatch problem in providing electric power with minimal costs using different technologies. Initially,
we describe this problem in terms of a linear program. This enables us to take generally neglected start-up costs into account.
The main result is the explicit solution of a simplified linear program which provides us with a better understanding of the
‘start-up cost’ effects. Furthermore, we show that dominated technologies should be used in the case of limited availability
of efficient technologies.
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Keywords: | Electricity markets Energy modeling |
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