Is There Still Merit in the Merit Order Stack? The Impact of Dynamic Constraints on Optimal Plant Mix

@article{Staffell2016IsTS,
  title={Is There Still Merit in the Merit Order Stack? The Impact of Dynamic Constraints on Optimal Plant Mix},
  author={Iain Staffell and Richard Green},
  journal={IEEE Transactions on Power Systems},
  year={2016},
  volume={31},
  pages={43-53}
}
The merit order stack is used to tackle a wide variety of problems involving electricity dispatch. The simplification it relies on is to neglect dynamic issues such as the cost of starting stations. This leads the merit order stack to give a poor representation of the hourly pattern of prices and under-estimate the optimal level of investment in both peaking and inflexible baseload generators, and thus their run-times by up to 30%. We describe a simple method for incorporating start-up costs… Expand
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