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WP4: Integration of CCL into a Full-scale Hard Coal Power Plant (UNP)

KEPCO uses these fuels in combination in order to realize the maximum benefit of each type of fuel. The chart below shows that coal is the lowest-cost fuel, followed by LNG and crude oil. As can be seen from the chart below, coal is the cheapest fuel, followed by LNG and crude oil. At KEPCO, to supply power as affordably as possible, we give operational priority to power plants that use the cheapest fuel, and constantly monitor trends in international energy prices to ensure that we can procure fuels as economically as possible.

As a fuel with high storability and shorter contract terms, crude oil can be considered a highly flexible fuel that can accommodate increases and decreases in the quantity required. Crude Oil is easy to store and many crude oil supply contracts have a short term, resulting in high flexibility.

LNG, on the other hand, is somewhat troublesome to store and has lower flexibility because LNG contracts tend to be longer term. KEPCO uses these fuels in combination in order to realize the maximum benefit of each type of fuel.

The chart below shows that coal is the lowest-cost fuel, followed by LNG and crude oil. As can be seen from the chart below, coal is the cheapest fuel, followed by LNG and crude oil. At KEPCO, to supply power as affordably as possible, we give operational priority to power plants that use the cheapest fuel, and constantly monitor trends in international energy prices to ensure that we can procure fuels as economically as possible.

As a fuel with high storability and shorter contract terms, crude oil can be considered a highly flexible fuel that can accommodate increases and decreases in the quantity required. Crude Oil is easy to store and many crude oil supply contracts have a short term, resulting in high flexibility. LNG, on the other hand, is somewhat troublesome to store and has lower flexibility because LNG contracts tend to be longer term.

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[PDF] Power Plants: Characteristics and Costs - Semantic Scholar

Most generators also incur substantial costs to start, shut down and adjust their output. Load also is limited by transmission availability. If power from the least-cost generator cannot flow to a load area because of constraints on the transmission system, the least-cost generator who can serve that load moves up in the dispatch order.

Historically, units with higher fixed costs — like nuclear, hydroelectric and coal — had low marginal costs. These units would provide the lowest average cost of electricity when they were operated frequently. It proved more cost-effective to build low fixed-cost generation, like natural gas and oil, to meet less-frequent demand needs.

In recent years, cheap natural-gas prices have usually made it more cost-effective to build natural-gas power plants in a baseload role than either coal or nuclear.

Power plant O&M: how does the industry stack up on cost?

This is because their maximum output capability at peak periods is constrained by weather. Electric infrastructure is capital-intensive, meaning its fixed costs are high relative to its variable costs. Spreading fixed costs out over a greater scale results in lower average per-unit costs, thus offering what are known as economies of scale.


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For example, building and operating a MW plant is less expensive than two MW plants. Electric infrastructure also is long-lived, operating for decades at a time.

Issues + Subissues

It requires long lead times to build. Once built, the high fixed costs become large sunk costs that is, costs that were already incurred to generation owners. This magnifies the consequences of poor investment decisions.

coal fired power plant costs ppt

Furthermore, investment economics depends on a variety of conditions that are difficult to predict, such as fuel prices, technology advances and policy changes. All these factors make generation investment risky for investors. These features have made long-term planning an indispensable tool to minimize cost and risk.