Two Generators Have The Following Fuel Cost Functions C1 75 10p1 0 015p C2 80 8 5p2 0 012p2 Hr Hr If 1 (41.12 KiB) Viewed 22 times
Two generators have the following fuel cost functions: C1:75 + 10P1 + 0.015P? C2:80 + 8.5P2 + 0.012P2 ($/hr) ($/hr)
If you can buy power for $10/MWh to meet the 300MW load, how much should you buy? What is your profit in $/hr, ie, how much cost per hour is reduced with respect to (a)? Note: the problem assumes both generators are already turned on (i.e., committed), and even if they are not producing any power, namely, Pi=0 or P2=0, there will still be $75/hr and $80/hr cost incurred respectively, which is called no-load cost.
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!