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Interfuel competition model for electricity generation in Venezuela

Abstract:

In Venezuela, electric power generation has become an important aspect of the national electricity system. Due to the high availability and variety of primary energy sources in the country, the decision on the fuel used to generate electricity has to be accompanied by a technical and economic feasibility study that helps to select the most suitable option. PDVSA Intevep has developed a model of interfuel competition in order to study the economic competitiveness of different fuels used in electricity generation and thus be able to support the strategies of energy policies and the rational use of the fuels. This model can be used to determine the suitability of harnessing a type of fossil fuel substitute for other, in those thermoelectric generating plants being planned across Venezuela. The model is designed to conduct assessments of thermo-electric plants of 200, 300 and 500 MW. The fuels used are natural gas, diesel, coal and petcoke. The model can plot the cost of generating electricity in mils US$/kWh and fuel cost in $/MMBtu for the different technology options based on an internal rate of return of 15%. This is an abstract of a paper presented at the 25th World Gas Conference (Kuala Lumpur, Malaysia 6/4-8/2012).