Kirkpatrick, Gail (2018) A predictive tool for water utilities to gauge electricity expenditure in a dynamic energy market. [USQ Project]
Abstract
In a volatile electricity market, businesses need tools to help minimise the effects of rising electricity prices. In Australia energy is traded on the National Electricity Market. Due to the closure of coal fired power plants and increases in fuel prices the cost of electricity has risen significantly. In addition, the concentration of supply with market manipulation means the price of electricity can vary dramatically in a day. Viewed in the larger context of weak regulations and threats of political intervention the electricity market is presently very volatile (Woods & Blowers, 2018). This creates a lot of uncertainty for business to plan future development and legitimise current practices.
As water utilities are major consumers of electricity, the uncertainty regarding the cost of electricity increases an untenable risk of disrupting a critical service. Therefore, strategies to maximise the potential cost reductions offered by different tariffs and identify mechanisms to reduce cost are becoming essential. To address these issues this project outlines the development of a tool to quantify and predict costs by modelling the interaction of operational practices and electricity tariffs. The outcomes have been able to identify the best tariff for the current operational regime at a pump station and identify operational changes and energy reducing strategies that can further minimise tariff costs. Armed with this data water utilities will be better able to respond with confidence to a dynamic energy market.
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| Item Type: | USQ Project |
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| Item Status: | Live Archive |
| Faculty/School / Institute/Centre: | Historic - Faculty of Health, Engineering and Sciences - School of Mechanical and Electrical Engineering (1 Jul 2013 - 31 Dec 2021) |
| Supervisors: | Hills, Catherine; Bowtell, Les; Hodgson, Richard |
| Qualification: | Bachelor of Engineering (Honours) (Electrical) |
| Date Deposited: | 08 Sep 2021 05:22 |
| Last Modified: | 27 Jun 2023 04:33 |
| URI: | https://sear.unisq.edu.au/id/eprint/40640 |
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