Pitfalls of Power Systems Modelling Metrics

In power system modelling the unit commitment problem is used to simulate the wholesale electricity market. A solution to the unit commitment problem is a least-cost schedule that contains information regarding the capacity factors of each generator, the total CO2 emissions, and unserved energy per hour. However, since there might be a large variety of (sub)-optimal solutions, these characteristics might be arbitrary and conclusions about them may be presumptuous.In this article, we illustrate this by running multiple experiments on a future European power system. Each scenario was run multiple times by adding additional terms to the objective function such as the minimization and maximization of generator capacity factors, carbon emissions, and loss of load hours. The results showed that schedules can be equivalent in terms of cost, but that relative capacity factors, emissions, and loss of load hours could differ by large factors.