AN OPRIMIZATION MODEL TO SAVE FUEL ENERGY IN ELECTRICITY GENERATION

Abstract

Of late, there has been a sharp increase in the peak electric power load which is attributal to weather-dependent power load. It is this peak load that forces the power generation company to build gas turbine plants that have a low capital cost per KW but high marginal cost per KWH resulting in inefficient use of input fuel energy.

One of the main objectives of this research is to examine the nature of optimality in the use of input fuel energy for electricity generation by shifting the peak power load to off-peak hours via a certain energy storage system such as solar heating in winter, thermal energy (coolness) storage for summer, or the hydroelectric pumped-storage system which is given a serious consideration in Korea today.