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Publication Number: CEC-200-2007-011-SF
Abstract:
This 2007 report updates the cost of generating electricity for California-located technologies. California Energy Commission staff provides levelized costs, including the cost assumptions, for 8 conventional and 20 alternative central station generation technologies. These levelized costs are useful in evaluating the financial feasibility of a generation technology and for comparing the cost of one technology against another. These cost of generation estimates represent one of the first such efforts based substantially on empirical data collected from operating facilities. The combined cycle and simple cycle costs are the result of a comprehensive survey of actual costs from the power plant developers in California who built power plants between 2001 and 2006. The other costs are based on actual costs and surveys of expected costs from experts in the field. For this reason, staff expects these estimates to have improved accuracy relative to other such estimates. The Energy Commission’s Cost of Generation Model is also unique in that it has two features not commonly found in cost of generation models: screening curves and cost sensitivity analysis curves. The Energy Commission also uses the fixed-cost data of the Cost of Generation Model with the variable cost information of a production cost market simulation model to produce wholesale electricity costs, which are necessary to many related resource planning studies at the Energy Commission, including Retail Electricity Price Forecasts, Global Warming Evaluations and Electric Vehicle Studies for the AB 1007 Report. Keywords: cost of generation, Cost of Generation Model, Model, levelized costs, instant cost, installed cost, fixed operation and maintenance, fixed O&M, variable operation and maintenance, variable O&M, heat rate, generation technology cost, annual costs, fixed cost, variable cost, alternative technologies, combined cycle, simple cycle, combustion turbine, integrated gasification combined cycle, coal cost, fuel cost, natural gas cost, nuclear fuel cost, heat rate degradation, financial variables, capital cost structure
Author(s): Joel Klein, Anitha Rednam Commission Division: Electricity and Demand Analysis (200)
Office/Program: Electricity Office
PIER Program Area:
Date Report Completed: December 2007
Date On Line:
12/06/2007
Acrobat PDF File Size: 200 pages,
1,600 kilobytes**
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