MEGS: Modelling energy and grid services to explore decarbonisation of power systems at lowest total system cost

Abstract

Finding the generation mix with the lowest total system cost for deep levels of decarbonisation is critical for electricity consumers and taxpayers, who together need to cover the costs of the entire electricity system. MEGS is an electricity system scenario tool designed to explore options to approach the optimal mix for a particular decarbonisation target. A future system must also maintain system security and “keep the lights on”. To ensure this, MEGS also models grid services, such as firm capacity, inertia and frequency response, ensuring that there are sufficient volumes of these balancing mechanisms available to the grid operator. MEGS has been validated against outturn generation data for the Australian National Electricity Market and has been used to explore the lowest cost frontier at high levels of decarbonisation.

Keywords

• Electricity cost
• Grid services
• Decarbonisation
• Power system model
• Total system cost
• Australian national electricity market