ABSTRACT
The operation of the national carbon emission trading market has brought new pressure to coal power plants in China. How to control the carbon emissions of the plants and ensure their power generation has become an important issue. This paper proposed a new production profit model based on risk constraint to explore a decision-making method for the plant’s carbon emission and production. A branch-and-cut algorithm is applied in the optimization solver to achieve a large-scale constraint linear programming, where the conditional value-at-risk is evaluated by Monte Carlo simulation. Results from the numerical analyses of the coal plant of 4520 MW capacity show that, the carbon emission according to our method is reduced by 3.94%, while the annual profit is increased by 1.25% and the overall cost is decreased by 1.06%. The proposed approach is helpful for the coal plants to manage their carbon emissions and optimize their power production.
Disclosure statement
No potential conflict of interest was reported by the author(s).
Additional information
Notes on contributors
Xiaolong Zhang
Xiaolong Zhang is a senior engineer from State Grid Electric Power Research Institute in China. His research interests are power production optimization, carbon emission management and quality control.
Yadong Dou
Yadong Dou is a lecturer from Nanjing University of Finance and Economics in China. His research interests are operation management, industrial engineering and optimization methods.
Chuchen Zhang
Chuchen Zhang is a student from Zhengjiang University in China. Her major is economic management.
Liwei Ding
Liwei Ding is a senior engineer from State Grid Electric Power Research Institute in China. He currently works on the promotion of energy efficiency on the energy consumption side.
Hongkun Lv
Hongkun Lv is a senior engineer from State Grid Electric Power Research Institute in China. His research interests are in the field of clean energy, integrated energy, and carbon emission analysis.