The value of nuclear power plants’ flexibility: A multistage stochastic dynamic programming approach

In future power systems dominated by intermittent renewable generation, nuclear power plants will increasingly need to follow uncertain loads. However, regulatory and technical constraints limit the frequency of load-following operations, making their efficient allocation crucial. This paper explore...

Celý popis

Uložené v:
Podrobná bibliografia
Vydané v:European journal of operational research
Hlavní autori: Blanchard, Ange, Massol, Olivier
Médium: Journal Article
Jazyk:English
Vydavateľské údaje: Elsevier B.V 01.04.2025
Elsevier
Predmet:
Computer Science
Dynamic programming
Economics and Finance
Humanities and Social Sciences
Low-carbon power systems
Nuclear power
Operations Research
OR in energy
Stochastic Dual Dynamic Programming
Nuclear power
Dynamic programming
OR in energy
Low-carbon power systems
Stochastic Dual Dynamic Programming
ISSN:0377-2217, 1872-6860
On-line prístup:Získať plný text
Tagy: Pridať tag
Žiadne tagy, Buďte prvý, kto otaguje tento záznam!
Popis
Shrnutí:In future power systems dominated by intermittent renewable generation, nuclear power plants will increasingly need to follow uncertain loads. However, regulatory and technical constraints limit the frequency of load-following operations, making their efficient allocation crucial. This paper explores the economic value of nuclear flexibility by modeling it as a stock constraint within a stochastic dynamic programming framework. We show how non-convex constraints at the reactor-scale translate to the fleet level through a linearized approximation, allowing for the analysis of multiple reactors operating under flexibility constraints. Applying this model to the French electricity system in 2035 using the Stochastic Dual Dynamic Programming (SDDP) algorithm, we estimate a marginal value of EUR 100/MW for the current flexibility level of the French nuclear fleet. Our results show that increased nuclear flexibility enhances system-wide cost efficiency and improves the integration of renewables, with solar generation seeing the largest benefits. However, our findings suggest a potential misalignment with the profit-maximizing goals of individual nuclear operators, which may deter them from increasing flexibility despite its necessity for the system. •Nuclear flexibility is modeled as a stock constraint on load-cycling operations.•We model the French nuclear flexibility in 2035 using the SDDP algorithm.•Increasing nuclear flexibility benefits the system but creates winners and losers.•Nuclear operators’ profits drop with flexibility, misaligning social and private goals.
ISSN:0377-2217
1872-6860
DOI:10.1016/j.ejor.2025.04.007