Abstract
Cogeneration is generally introduced to upgrade energy utilization efficiency, increase spinning reserve and relieve power shortages. In addition, it is also closely related to the planning of power generation and transmission. Therefore, a reasonable pricing for cogeneration should take both the promotion of cogeneration and the efficiency of power transmission into consideration. Based on avoided generation costs, this paper presents an assessment function to calculate a reasonable selling price for electricity generated by a cogeneration system connected to the electric grid. Unlike the profit functions appearing in the literature, the proposed evaluation scheme is developed from the point of view of a power system, including line losses and power flows on the transmission lines. To illustrate the effectiveness of the proposed criterion, computer simulations for a 30 MW cogeneration power connected to four different substations of an IEEE 9‐bus system are given and compared. The paper also evaluates the benefits arisen from line losses for transmission systems with and without capacitive reactances. The results obtained not only verify the analysis, but also provide a practical reference to facilitate the pricing of electricity and investment in cogeneration.
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