YEAR Plant Id Plant Name State AER Fuel Type Physical Fuel Consumption Total Facility Net (BTU/net YEAR Plant Id Plant Name State Code Unit Label (MMBTU) Generation (MWh) KWh) Rank. If E is the efficiency of a power plant (in percentage terms) and HR is the heat rate, we can convert between the two as follows: We will now illustrate this with two examples: A power plant with a heat rate of 8 mmBTU/MWh would have an efficiency of: A power plant that converts fuel to electric energy with a 30% efficiency (E = 0.3) would have a heat rate of: We can now use the heat rate plus a market price of fuel (in units of $/mmBTU) to calculate the fuel cost portion of the short run marginal cost. The plant's marginal cost, in $/MWh, would be given by: Coal costs $2.50 per million BTU. One thousand cubic feet (Mcf) of natural gas equals 1.037 MMBtu, or 10.37 therms. However, the accuracy cannot be guaranteed. Heat Rate: The heat rate as expressed in MMBtu/MWh. For this table, the heat rate is expressed in MMBtu per MWh. NGCC heat rate is 6,400 btu/kwh. Electrical energy consumption rate equivalent to a million watts consumed in one hour. The source "txt" files are available for download and can be used in a spreadsheet program such as MS Excel or imported into a database application such as MS Access. A more common reference for heat rates is typically Btu/kWh: simply multiply the given heat rate by 1,000 to convert from MMBtu/MWh to Btu/kWh. Switch units Starting unit. The "long run marginal cost" measures the cost to produce a unit of electric energy where we don't assume that the capacity of the plant is fixed. To make our lives easier, we will use the heat rate in units of [million BTU/MWh]. For most datasets, the oldest year will be 2001. If you want efficiency you need output/input or .1625 mWh/BTU, To get efficiency you can multiply .1625 x 3.412 to get MWH out/MWH in, This means that the efficiency is 3.412/heat rate = 3.412/6.4 = 53.3%. 1 MMBtu = 0.29329722222222 MWh. The marginal cost of generation for power plants that run on fossil fuels plants (coal, oil, gas) is dominated by fuel costs. The unit will not run unless the market price of electricity is higher than $21. 1 MWH is equivalent to 3.412 MMBTU. Conversions may rely on other factors not accounted for or that have been estimated. In 2019, the U.S. annual average heat content of natural gas delivered to consumers was about 1,037 Btu per cubic foot. 3412 BTU/kWh or 3412 kbtu/mwh or 3.412 mmbtu/mwh. Most fluctuations in power prices can be explained by two factors – costs of fuel and marginal power plant heat rates. Thus, power prices can move quickly as the dispatch curve changes in response to changes in demand. Author: Seth Blumsack, Associate Professor and Program Chair for Energy Business and Finance, Department of Energy and Mineral Engineering, College of Earth and Mineral Sciences, The Pennsylvania State University. MMBTU/MWH = Normal HR (BTU/kWh) x 1000 LCOE = (Cap cost/kW x CCR + FOM)/(8760 x CF) + Fuel/MWH + Var O&M/MWH . NOTE: The information in the following table can be copied to a spreadsheet program such as MS Excel by highlighting the desired records and then copying and pasting them into a spreadsheet. Thus if a generator could convert all of the energy from the fuel into electric energy, its heat rate would be 3.412 MMBTU/MWH. The unit heat rate, which describes how efficiently the unit can convert the fuel to electricity. Come be part of creating a clean, modern and thriving This page includes discussion and data for making thermal and other conversions. Company Name: The last recorded company name that owns the power plant. You can download an excel file that has a whole bunch of the conversions that I have collected over the years. A-Z Step by Step Corporate Model with Theory and Mechanics, Overview of Corporate Model Theory and Practice, Computation of ROIC After Bringing In Data to the Model, Converting Standalone Model to Acquisition Model, Tricky Problem of Computing NOL with Expiration After Given Period, Tabulating Annual Sums in Monthly or Quarterly Models, Corporate Modeling and Valuation Analysis Files, Retrieve Data for Historic Analysis (SEC Method), Terminal Value, Fade Period and Multiples, Use of Proofs in Corporate Valuation Analysis, Partial Year Discounting and Timing in DCF Analysis, Stable Terminal Cash Flow in DCF — Working Capital, Taxes and ROIC, Normalised Cash Flow in DCF Calculations – Stable Level of Capital Expenditures Consisitent with Terminal Growth, Bridge from Enterprise Value to Equity Value, Advanced Multiples and Value Driver Formula, Using the Value Driver Formula to Access Value, Understanding P/E and EV/EBITDA Multiples, Biases in McKinsey Value Driver Formula Part 1 – Changes in Growth Rate, Biases in McKinsey Formula Part 2 – Inflation Distortions, Financial Statement Analysis and Calculating ROIC, Reconciliation of IRR on Single Investments with ROI for the Corporation, Valuation and Modelling of Financial Institutions and Insurance, ROIC Issues and Measurement from Asset Impairment, Service Companies and Dispositions, Comprehensive Acquisition Modelling Exercise, M&A Modelling Fundamentals On-Line Course, Depreciation with Different Asset Vintages and Rates Using UDF, Depreciation in Corporate Models with Changing Growth, Economic Depreciation and Reconciling IRR with ROI, Databases from Internet with Automatic Updates, Comprehensive Stock Price, Economic Variables, Commodity Prices and Exchange Rate Analysis, Comprehensive Financial Database if You Cannot Afford Bloomberg, Commodity Price Database Including Futures Download, Interest Rate and Credit Spread Analysis from FRED. We can convert easily between the efficiency of a power plant and its heat rate. May be different from other common references in use in other proceedings, hearings, etc. Content on this site produced by www.kylesconverter.com is available under a creative commons license unless otherwise stated. Variable costs, recall, refer to the costs of power generation that change as the amount of electricity is generated. In fact, that is rarely the case. The simplest model for variable cost of power generation is: Marginal cost of generation ($/MWh) = Marginal cost of Fuel + Variable operations and maintenance costs. Suppose gas costs $3/MMBtu. But if all the available combined-cycle units have been turned on and it is necessary to dispatch a single-cycle unit with a heat rate of 10 MMBtu/MWh, then the market rate will have to jump to at least $3/MMBtu x 10 = $30/MWh to get the single-cycle unit to run. "Heat Rate" is a broad measure of thermal efficiency of a power plant in the conversion of fuel into electricity. Units, Conversion & Calculation Blog | A Look at Blockchain Technology and Electric Trading. Please share if you found this tool useful: (adsbygoogle = window.adsbygoogle || []).push({}); A reasonable effort has been made to ensure the accuracy of the information presented on this web site. What Could Change the Future of U.S. Natural Gas Demand? Here are some typical heat rates for power plants: Since the heat rate tells us how much fuel is needed to generation one unit of electricity, we can use the heat rate to calculate the variable fuel generation cost once we know the cost of fuel. 1 MWh = … Excel file with Collection of Conversion Factors Including Electricity, Oil, Coal and Other Factors, Comprehensive Electricity Analysis with Incremental Heat Rates, Screening Analysis and Other Issues. Change ), You are commenting using your Google account. Natural gas costs $5 per million BTU. Edward Bodmer – Project and Corporate Finance. The Pennsylvania State University © 2020, Lesson 3: Economics of Power Generation, Transmission and Distribution, ‹ 3.1.1 Fixed Cost Concepts for Power Generation, 3.1.3 Practice Quiz - Short Run Marginal Cost of a Power Plant ›, Lesson 1: Introduction to the Electric Power Grid, 3.1.1 Fixed Cost Concepts for Power Generation, 3.1.2 Variable Cost Concepts for Power Generation, 3.1.3 Practice Quiz - Short Run Marginal Cost of a Power Plant, 3.2.1 Long Run Cost Concepts for Power Plants: Levelized Cost of Energy and Annual Revenue Requirement, 3.2.2 Long Run Average Cost of Energy: The LCOE, 3.2.3 Practice Quiz - Levelized Cost of Energy, 3.2.4.

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