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The input-output curve of a gas-fired generating unit is approximated by the following function: H(P) = 120 +9.3 P + 0.0025 P² MJ/h This unit has a minimum stable generation of 200 MW and a maximum output of 500 MW. The cost of gas is 1.20 $/MJ. Over a 6-h period, the output of this unit is sold in a market for electrical energy at the prices shown in the table below. Period 1 2 3 4 Price ($/MWh) 12.5 10 13 13.5 15 11 Assuming that this unit is optimally dispatched, is initially on-line and cannot be shut down, calculate its operational profit or loss for this period.

The input-output curve of a gas-fired generating unit is approximated by the following function: H(P) = 120 +9.3 P + 0.0025 P² MJ/h This unit has a minimum stable generation of 200 MW and a maximum output of 500 MW. The cost of gas is 1.20 $/MJ. Over a 6-h period, the output of this unit is sold in a market for electrical energy at the prices shown in the table below. Period 1 2 3 4 Price ($/MWh) 12.5 10 13 13.5 15 11 Assuming that this unit is optimally dispatched, is initially on-line and cannot be shut down, calculate its operational profit or loss for this period.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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4.2 The input-output curve of a gas-fired generating unit is approximated by the following function: H(P) = 120 + 9.3 P + 0.0025 P² MJ/h This unit has a minimum stable generation of 200 MW and a maximum output of 500 MW. The cost of gas is 1.20 $/MJ. Over a 6-h period, the output of this unit is sold in a market for electrical energy at the prices shown in the table below. Period 1 3 4 6 Price ($/MWh) 12.5 10 13 13.5 15 11 Assuming that this unit is optimally dispatched, is initially on-line and cannot be shut down, calculate its operational profit or loss for this period.
Transcribed Image Text:4.2 The input-output curve of a gas-fired generating unit is approximated by the following function: H(P) = 120 + 9.3 P + 0.0025 P² MJ/h This unit has a minimum stable generation of 200 MW and a maximum output of 500 MW. The cost of gas is 1.20 $/MJ. Over a 6-h period, the output of this unit is sold in a market for electrical energy at the prices shown in the table below. Period 1 3 4 6 Price ($/MWh) 12.5 10 13 13.5 15 11 Assuming that this unit is optimally dispatched, is initially on-line and cannot be shut down, calculate its operational profit or loss for this period.
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