production cost optimisation tool

The production cost optimisation model has been developed by MPE and is based on a MILP (Mixed Integer Linear Programming) model using IBM/CPLEX as solver. The production cost optimisation model balances flexibility requirements and flexibility resource and calculates overall production cost over a period of one year while respecting all constraints, including flexibility constraints and grid constraints. By having our own in-house tool we can add / modify / remove constraints as required for different power systems and generation technologies as required. If you would like to discuss this tool further, then please say hello

Costs include:
Cost of fuel
Cost of start-ups and shut-downs
Cost of significant load ramps