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A plant can also have its output curtailed or intentionally left idle because the electricity is not needed or because the price of electricity is too low to make production economical. This accounts for most of the unused capacity of peaking power plants and load following power plants. Peaking plants may operate for only a few hours per year ...
The availability of a power plant varies greatly depending on the type of fuel, the design of the plant and how the plant is operated. Everything else being equal, plants that are run less frequently have higher availability factors because they require less maintenance and because more inspections and maintenance can be scheduled during idle time.
The levelized cost of electricity (LCOE) is a metric that attempts to compare the costs of different methods of electricity generation consistently. Though LCOE is often presented as the minimum constant price at which electricity must be sold to break even over the lifetime of the project, such a cost analysis requires assumptions about the value of various non-financial costs (environmental ...
In electrical engineering the load factor is defined as the average load divided by the peak load in a specified time period. [1] It is a measure of the utilization rate, or efficiency of electrical energy usage; a high load factor indicates that load is using the electric system more efficiently, whereas consumers or generators that underutilize the electric distribution will have a low load ...
Full Load hour is a measure of the degree of utilisation of a technical system. [1] [2] [3] Full load hours refer to the time for which a plant would have to be operated at nominal power in order to convert the same amount of electrical work as the plant has actually converted within a defined period of time, during which breaks in operation or partial load operation can also occur.
Together, the price duration curve and load duration curve enable the analyst to understand the behaviour of the electricity market, for example, the likelihood of peaking power plant being required for service, and the impact that this might have on price. Mathematically, it is a complementary cumulative distribution function.
Utilization factor (solid line) with blade-to-gas speed ratio. The utilization factor or use factor is the ratio of the time that a piece of equipment is in use to the total time that it could be in use.