Abstract

SHARMA, A.K.  and  TEWARI, P.C.. Performance evaluation and economic analysis of a steam thermal power plant. S. Afr. J. Ind. Eng. [online]. 2009, vol.20, n.1, pp.133-146. ISSN 2224-7890.

Performance evaluation and economic analysis is carried out to predict the steady state operational availability and net present value index for a thermal power plant. Mathematical formulation of the plant's reliability is carried out using probability theory following the Chapman-Kolmogorov Birth-Death process. The system of differential equations obtained is solved using the Laplace transformation technique. The behaviour analysis of performance modules reveals that availability decreases with increasing failure rates, while operational availability improves with an initial increase in repair rates for different sub-systems. From the economic evaluation module, the plant availability and power generation capacity are found to be sensitive, while increasing the redundancies of feed pump or condensate extraction pump sub-systems has less influence on the profitability index. A high-capacity plant reflects better trends. Model predictions indicate a critical condition for repair rates; beyond these rates the plant availability, net present value, and annual revenue earned are found to be insensitive.

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