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Reliability and Rationing Cost: Some Analytical Implications for a Power System

Vijayamohanan Pillai N.

Vijayamohanan Pillai N. 1

  1. Faculty, Centre for Development Studies, Prasanth Nagar, Ulloor, Trivandrum, Kerala, India 1

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Pages: 1-15

DOI: 10.18488/journal.81/2015.2.1/81.1.1.15

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Abstract:

The present paper attempts to analyze the implications of the relationship between reliability and rationing cost involved in a power supply system in the framework of the standard inventory analysis, instead of the conventional marginalist approach of welfare economics. The study is substantiated by fitting a normal distribution to the daily internal maximum demand of the Kerala power system during the four-year period from 2010-11 to 2013-14, and also by estimating, based on the techno-economic parameters of a 660 MW thermal power plant, the rationing costs implied in different reliability target criteria.

Contribution/ Originality
This study suggests a new approach to the relationship between reliability and rationing cost involved in a power supply system; it also contributes in the existing literature to the standard inventory analysis by linking it to reliability analysis.

Keywords:

Power supply, Maximum demand, Installed capacity, Reliability, Rationing cost, Normal distribution, Exponential distribution.

Reference:

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  3. Government of India, Fourth national power plan 1997 – 2012. New Delhi: Central Electricity Authority, 1997.
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  9. R. Turvey and D. Anderson, Electricity economics – essays and case studies. Baltimore: John Hopkin’s University Press, 1977.
  10. H.-P. Chao, "Peak load pricing and capacity planning with demand and supply uncertainty," Bell Journal of Economics, vol. 14, pp. 179 – 190, 1983.
  11. N. Pillai Vijayamohanan, "Seasonal time-of-day pricing of electricity under uncertainty: A marginalist approach to Kerala power system," Unpublished Ph. D. Thesis, University of Madras, Chennai, 1991.
  12. N. Pillai Vijayamohanan, Optimal peak load pricing of electricity under uncertainty – some welfare implications. Saarbrucken, Deutschland: VDM Verlag, 2010.
  13. S. Motghare Vilas and R. K. Cham, "Generation cost calculation for 660 MW thermal power plants," International Journal of Innovative Science, Engineering & Technology, vol. 1, pp. 660-664, 2014.

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