Optimal bidding price strategy in electricity auction for new capacity in Malaysia considering uncertainty / Muhammad Syukur Amran

Optimal bidding price strategy in electricity auction for new capacity in Malaysia considering uncertainty / Muhammad Syukur Amran

The objective of this project is to find the optimal biding price in electricity auction for new power - plants in Malaysia. This strategy is applied to three most common generation technologies which is coal, gas-fired (CCGT), and nuclear. It is important for the generating company to determine the...

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Main Author: Amran, Muhammad Syukur
Format: Thesis
Language:English
Published: 2013
Online Access:https://ir.uitm.edu.my/id/eprint/84605/1/84605.pdf
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spelling my-uitm-ir.846052024-03-11T03:56:54Z Optimal bidding price strategy in electricity auction for new capacity in Malaysia considering uncertainty / Muhammad Syukur Amran 2013 Amran, Muhammad Syukur The objective of this project is to find the optimal biding price in electricity auction for new power - plants in Malaysia. This strategy is applied to three most common generation technologies which is coal, gas-fired (CCGT), and nuclear. It is important for the generating company to determine the minimum bid prices that it should submit in the auction in order to ensure that the investment would be profitable and meet the Minimum Acceptable Rate of Return (MARR) aimed by the company. The uncertainty such as fuel cost, overnight cost, operation and maintenance (O&M) cost and utilization factor are considered in the model. The effect of these uncertainties on the bid prices is studied using 1) sensitivity analysis and 2) probabilistic analysis. Results show that the bid prices of nuclear is more sensitive to the changes in investment cost, O&M cost and utilization factor and less sensitive to the fuel cost than coal and CCGT. On the other hand the bid price of CCGT is more sensitive to the fuel cost. The sensitivity of coal plant shows result somewhere in between the nuclear and CCGT. 2013 Thesis https://ir.uitm.edu.my/id/eprint/84605/ https://ir.uitm.edu.my/id/eprint/84605/1/84605.pdf text en public degree Universiti Teknologi MARA, Shah Alam Faculty of Electrical Engineering Dahlan, Nofri Yenita
institution Universiti Teknologi MARA
collection UiTM Institutional Repository
language English
advisor Dahlan, Nofri Yenita
description The objective of this project is to find the optimal biding price in electricity auction for new power - plants in Malaysia. This strategy is applied to three most common generation technologies which is coal, gas-fired (CCGT), and nuclear. It is important for the generating company to determine the minimum bid prices that it should submit in the auction in order to ensure that the investment would be profitable and meet the Minimum Acceptable Rate of Return (MARR) aimed by the company. The uncertainty such as fuel cost, overnight cost, operation and maintenance (O&M) cost and utilization factor are considered in the model. The effect of these uncertainties on the bid prices is studied using 1) sensitivity analysis and 2) probabilistic analysis. Results show that the bid prices of nuclear is more sensitive to the changes in investment cost, O&M cost and utilization factor and less sensitive to the fuel cost than coal and CCGT. On the other hand the bid price of CCGT is more sensitive to the fuel cost. The sensitivity of coal plant shows result somewhere in between the nuclear and CCGT.
format Thesis
qualification_level Bachelor degree
author Amran, Muhammad Syukur
spellingShingle Amran, Muhammad Syukur
Optimal bidding price strategy in electricity auction for new capacity in Malaysia considering uncertainty / Muhammad Syukur Amran
author_facet Amran, Muhammad Syukur
author_sort Amran, Muhammad Syukur
title Optimal bidding price strategy in electricity auction for new capacity in Malaysia considering uncertainty / Muhammad Syukur Amran
title_short Optimal bidding price strategy in electricity auction for new capacity in Malaysia considering uncertainty / Muhammad Syukur Amran
title_full Optimal bidding price strategy in electricity auction for new capacity in Malaysia considering uncertainty / Muhammad Syukur Amran
title_fullStr Optimal bidding price strategy in electricity auction for new capacity in Malaysia considering uncertainty / Muhammad Syukur Amran
title_full_unstemmed Optimal bidding price strategy in electricity auction for new capacity in Malaysia considering uncertainty / Muhammad Syukur Amran
title_sort optimal bidding price strategy in electricity auction for new capacity in malaysia considering uncertainty / muhammad syukur amran
granting_institution Universiti Teknologi MARA, Shah Alam
granting_department Faculty of Electrical Engineering
publishDate 2013
url https://ir.uitm.edu.my/id/eprint/84605/1/84605.pdf
_version_ 1794192029637410816

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