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Thermoeconomic Analysis of a Steam Power Plant: The Impact of the Amortization Period and the Escalation Rate of the Fuel Price

Giuma M. Fellah*

Department of Mechanical Engineering, University of Tripoli, Libya.

Periodicity:November - January'2021
DOI : https://doi.org/10.26634/jfet.16.2.17576

Abstract

The cost escalation rate of the fuel considers the changes in the input prices over the amortization period of the power plants. Since revenue requirements and the accompanying profit on the capital cost can be affected by the change in the fuel unit price, the thermo-economic analysis should be enhanced by considering the escalation rates that reflect the predicted variations in the input prices. The aim of this work is to explore the effect of the amortization period and the escalation rate on the thermo-economic performance of a selected power generation unit of 350 MWe. It is found that the escalation rate affects the unit cost of the produced energy (net power output), the hourly cost of the energy destruction and the exergo-economic factor. For instance, as the escalation rate increases from 0 to 7% the unit cost of the produced energy increases by 49.05% for an amortization period of 25 years and by 63.74% for an amortization period of 35 years.

Keywords

Thermo-economic, Exergy, Escalation Rate, Amortization Period.

How to Cite this Article?

Giuma. (2021). Thermoeconomic Analysis of a Steam Power Plant: The Impact of the Amortization Period and the Escalation Rate of the Fuel Price. i-manager's Journal on Future Engineering and Technology, 16(2), 1-10. https://doi.org/10.26634/jfet.16.2.17576

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