Abstract Current electricity markets operate on a cost minimizing objective for power supply. However, countries across the world need to decarbonize their power systems in line with their policy objectives to mitigate climate change. In this context, this paper presents a framework to analyze synergies and trade-offs in cost and emission minimization strategies in the power sector. Emission minimizing objective can reduce emissions from existing fleets having flexibility in electricity supply, regardless of renewable energy capacity additions. This framework can also provide us with win-win strategies for reducing emissions while keeping costs low. An optimization model is developed for case study of India with data of 568 coal and 199 gas thermal units to analyze alternative real time dispatch and operating strategies. The cost and emission optimal supply strategies are compared in terms of power plant operations, emission reductions, and resulting cost of carbon abatement. The results show that 9.8% of carbon dioxide emissions can be reduced with 19% increment in the cost of electricity in emission minimizing strategy with respect to cost minimization. The operations in emission optimal supply strategy require additional 28 million dollars per day. The cost of carbon abatement is 99–129 dollars per tonne.

中文翻译：

---

分析电力部门成本和排放权衡的框架

摘要 当前的电力市场以电力供应成本最小化为目标。然而，世界各国需要根据其减缓气候变化的政策目标，对电力系统进行脱碳。在此背景下，本文提出了一个框架来分析电力部门成本和排放最小化策略的协同作用和权衡。排放最小化目标可以减少现有电力供应灵活的车队的排放，无论可再生能源容量增加多少。该框架还可以为我们提供双赢战略，在减少排放的同时保持低成本。为印度的案例研究开发了一个优化模型，其中包含 568 台煤和 199 台燃气热机组的数据，以分析替代的实时调度和运营策略。成本和排放最优供应策略在电厂运营、减排和由此产生的碳减排成本方面进行了比较。结果表明，相对于成本最小化的排放最小化策略，在电力成本增加 19% 的情况下，二氧化碳排放量可以减少 9.8%。排放最优供应策略的操作每天需要额外的 2800 万美元。碳减排成本为每吨 99-129 美元。排放最优供应策略的操作每天需要额外的 2800 万美元。碳减排成本为每吨 99-129 美元。排放最优供应策略的操作每天需要额外的 2800 万美元。碳减排成本为每吨 99-129 美元。