Update marginal cost calculations to use weibull curves for calculating dispatch costs from guaranteed dispatch and factor into marginal dispatch costs #336
Right now, the model uses the dispatch cost per unit output for all guaranteed dispatch cost calculations, but for regions with high shares of guaranteed dispatch, e.g. China, this significantly underestimates the market price.
Additionally, the least cost dispatch mechanism subtracts out the capacity that has been dispatched and the starts at the zero point for the dispatch curve. Instead, we should use a MAX function and let the model find the true marginal dispatch cost inclusive of guaranteed dispatch.
robbieorvis
commented
1 month ago
Right now, the model uses the dispatch cost per unit output for all guaranteed dispatch cost calculations, but for regions with high shares of guaranteed dispatch, e.g. China, this significantly underestimates the market price.
Additionally, the least cost dispatch mechanism subtracts out the capacity that has been dispatched and the starts at the zero point for the dispatch curve. Instead, we should use a MAX function and let the model find the true marginal dispatch cost inclusive of guaranteed dispatch.