Computational models of natural gas markets for gas-fired generators
Thesis: S.M. in Technology and Policy, Massachusetts Institute of Technology, School of Engineering, Institute for Data, Systems, and Society, Technology and Policy Program, 2016.
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| Format: | Thesis |
| Language: | eng |
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Massachusetts Institute of Technology
2017
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| Online Access: | http://hdl.handle.net/1721.1/108213 |
| _version_ | 1826203092194951168 |
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| author | Nandakumar, Neha |
| author2 | Anuradha Annaswamy. |
| author_facet | Anuradha Annaswamy. Nandakumar, Neha |
| author_sort | Nandakumar, Neha |
| collection | MIT |
| description | Thesis: S.M. in Technology and Policy, Massachusetts Institute of Technology, School of Engineering, Institute for Data, Systems, and Society, Technology and Policy Program, 2016. |
| first_indexed | 2024-09-23T12:31:32Z |
| format | Thesis |
| id | mit-1721.1/108213 |
| institution | Massachusetts Institute of Technology |
| language | eng |
| last_indexed | 2024-09-23T12:31:32Z |
| publishDate | 2017 |
| publisher | Massachusetts Institute of Technology |
| record_format | dspace |
| spelling | mit-1721.1/1082132022-01-31T17:06:42Z Computational models of natural gas markets for gas-fired generators Nandakumar, Neha Anuradha Annaswamy. Technology and Policy Program. Massachusetts Institute of Technology. Engineering Systems Division Massachusetts Institute of Technology. Institute for Data, Systems, and Society Technology and Policy Program Institute for Data, Systems, and Society. Engineering Systems Division. Technology and Policy Program. Thesis: S.M. in Technology and Policy, Massachusetts Institute of Technology, School of Engineering, Institute for Data, Systems, and Society, Technology and Policy Program, 2016. Cataloged from PDF version of thesis. Includes bibliographical references (pages 69-72). Climate change is a major factor reforming the world's energy landscape today, and as electricity consumes 40% of total energy, huge efforts are being undertaken to reduce the carbon footprint within the electricity sector. The electric sector has been taking steps to reform the grid, retiring carbon-intensive coal plants, increasing renewable penetration, and introducing cyber elements end-to-end for monitoring, estimating, and controlling devices, systems, and markets. Due to retirements of coal plants, discovery of shale gas leading to low natural gas prices, and geopolitical motives to reduce dependence on foreign oil, natural gas is becoming a major fuel source for electricity around the United States. In addition, with increasingly intermittent renewable sources in the grid, there is a need for a readily available, clean, and flexible back-up fuel; natural gas is sought after in New England to serve this purpose as a reliable and guaranteed fuel in times when wind turbines and solar panels cannot produce. While research has been conducted advocating natural gas pipeline expansion projects to ensure this reliability, not enough attention has been paid to the overall market structure in the natural gas and electricity infrastructures which can also impact reliable delivery of gas and therefore efficient interdependency between the two infrastructures. This thesis explores the market structures in natural gas and electricity, the interdependence of natural gas and electricity prices with increasing reliance on natural gas as the penetration of renewable energy resources (RER) increases in order to complement their intermittencies, possible volatilities in these prices with varying penetration rates in RER, and alternatives to existing market structures that improve reliability and reduce volatility in electricity and gas prices. In particular, the thesis will attempt to answer the following two questions: What will the generation mix look like in 2030 and how will this impact gas and electricity prices? How do Gas-Fired Generator (GFG) bids for gas change between 2015 and 2030? In order to answer these questions, a computational model is determined using regression analysis tools and an auction model. Data from the New England region in terms of prices, generation, and demand is used to determine these models. by Neha Nandakumar. S.M. in Technology and Policy 2017-04-18T16:37:38Z 2017-04-18T16:37:38Z 2016 2016 Thesis http://hdl.handle.net/1721.1/108213 980349507 eng MIT theses are protected by copyright. They may be viewed, downloaded, or printed from this source but further reproduction or distribution in any format is prohibited without written permission. http://dspace.mit.edu/handle/1721.1/7582 72 pages application/pdf Massachusetts Institute of Technology |
| spellingShingle | Institute for Data, Systems, and Society. Engineering Systems Division. Technology and Policy Program. Nandakumar, Neha Computational models of natural gas markets for gas-fired generators |
| title | Computational models of natural gas markets for gas-fired generators |
| title_full | Computational models of natural gas markets for gas-fired generators |
| title_fullStr | Computational models of natural gas markets for gas-fired generators |
| title_full_unstemmed | Computational models of natural gas markets for gas-fired generators |
| title_short | Computational models of natural gas markets for gas-fired generators |
| title_sort | computational models of natural gas markets for gas fired generators |
| topic | Institute for Data, Systems, and Society. Engineering Systems Division. Technology and Policy Program. |
| url | http://hdl.handle.net/1721.1/108213 |
| work_keys_str_mv | AT nandakumarneha computationalmodelsofnaturalgasmarketsforgasfiredgenerators |