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How much does a new power plant cost? And how much will the power cost generated by it? There is much talk about the rise of renewables (by getting cheaper while nuclear getting more expensive) over the last decade, but what do the numbers show to us? We did the maths to shed some light on the real costs of both the renewable and conventional power plants.
(title: Total Cost of Energy of Various Power Plants, EUR/MWh)
We now know what balancing energy is, how it is provided, who provides it, who controls it, who uses it and what other basic system design elements influence its overall usage. There’s nothing else left than taking a deep dive down the rabbit hole of the methodology of its calculation in our selected three countries. Similarly to Alice, we shall be rewarded with the opportunity to explore a wonderland where it is really easy to lose track of time and space. (more…)
In the previous post about balancing energy you may or may not have become familiar with the basic concepts. That was more focused on the theory and looked at things from the Transmission System Operators’ (TSOs) and the power plants’ perspective. In the following few paragraphs we’ll be looking into some practical concepts that are applicable to other market players (such as large consumers and energy suppliers/retailers) and also lead us closer to practice. (more…)
Electricity is many things. It’s a current, it’s a field, it’s a set fascinating physical phenomena. But more importantly, it’s also a commodity, which can be produced, traded and consumed. Just like natural gas, grain or tulips. However, unlike in the case of grain (but not really tulips), the production and consumption of electricity must happen at exactly the same time. This still tends to be true, despite recent advances in storage technologies. One can, therefore, say that supply and demand in electricity must be in perfect balance at all times. (This must be true at least within the boundaries of a well-defined geographic area, often called a “balancing zone”. Which also often coincides with the state border of European countries.) What would happen if it wasn’t? Well, the short answer to that is: that’s when you have a blackout.