Mello, J.C.
July 1997
Fuel and Energy Abstracts, vol 38-4, p. 246
In order to evaluate short-run marginal costs (SRMC) in hydrothermal systems, an integrated framework has been developed. The resulting SRMC values are used to calculate circuit revenues, which are then compared with investment requirements. In contrast to the widely reported under-recovery found in studies which only represent normal operating conditions, it is shown that the representation of these probabilistic factors substantially increases revenues. Case studies with the Brazilian North-Northeastern system are presented and discussed.
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