Economic and emission dispatch under the Electricity Market Reform

Nowadays, the global environmental pollution regulations drives the increase in the use of low-carbon sources as an alternative to conventional power generation. Moreover, the UK current energy policy, the Electricity Market Reform (EMR), has a strong focus on the security, affordability and decarbonisation of the energy system.
In order to determine the optimal operation strategy from a techno-economics aspect under the EMR in the energy system, a Combined Economic and Emission Dispatch (CEED) model is investigated to solve the optimization problem in the energy system. This is able to find a security and affordability solution for the energy system. In addition, a wind-storage combined system (WSCS) is incorporated in the model. Furthermore, the Carbon Price Floor (CPF) and an Emission Performance Standard (EPS) are applied to model the support of EMR.
The research in this thesis is progressive. The CEED model is investigated for a steady state energy system with conventional and wind power. Then the investigated model is developed to a dynamic state model; additionally, the dynamic model takes into account WSCS, which is in order to reduce renewable power uncertainty and the possible cost of waste and reserve power; finally, practical cases are studied using the model.
To conclude, increasing the CPF at a low emission limit leads to an increase in the cost of an electrical system, but the increasing cost rate is mitigated by decreasing the emission limit. Furthermore, the CPF is able to dominate the dispatch at high emission limits. Nevertheless, at low emission limits, the EPS has a high impact on the dispatch. In addition, the renewable power has the superiority in both the economics and environment for a mid to long-term strategy for the UK. Moreover, the benefit of the WSCS is noticeable in economics, emissions and robustness.