Australian Electricity Markets Spot Price Generator Optimisation
Is your business leading the pack, or will it fall behind?
Spot electricity market prices can send a shudder through generators, dispatchers and trading organisations. The speed of generator response and their min and max capacity, in conjunction with demand is part of the spot price resultant.
Generators may attempt to predict supply & demand by means such as statistical, climatic or other factors, where the plant is then adjusted accordingly. This is business as usual. However, an organisation in pursuit of Optimisation seeks opportunities not typically attained.
Business Optimisation is not always resolute. Influences from hardware design, maintenance, control systems, algorithms or general business practices are large contributing factors. Generator’s response rates will vary from Hydro-Electric Plants, Steam Cycles and Combined Plants. Where the plants response rates and ranges are directly linked to the critical financial gains of the business.
Design and Operational characteristics tend to be normalised i.e. accepted and seldom challenged for improvements. This will often limit the dynamic range between min and max capacity and the rates of being able to increase or unload the plant. Successful Optimisation and adaptation are imperative to creating a leading tier one generator and propelling further industry. Doing so requires a multi-disciplined and experienced approach, which we have.
Need help in pursuit of Optimisation?