The
specific initial ccst of a hydro power plant dcpcnds rnai:~ly on thc hc:l<i and size and
hel~cc on thc rotational
speed
or
the
unit. The cost
of
civil en_cinccring works, ;rrchitecture,
powcr tran~rnission line, mcchnnical ar,d e!cctricrtl
equipment
tlcpclltis both on thc head
and on the
type
of
plant (i-c., wllcther river run, pumped storage etc.). The actual state
of
art
is
rcilcctcd
by
discussing the development
of
some important rivers.
2.2.
Economical aspects
of
hydro
power
plants
2.2.1.
General
remark about
feasibility
of
a
project
In general the planning
of
a
hydro power plant has to bc based on the principle that the
plant has
to
bc economically viable. Strictly speaking this means that the cost of the
plant's equipment
(i.e., turbines, alternators, transformers, switchgear, high voltage
transmission,
contrcl rooms)
its
buildings (i.e., barrage, tunnel, pressure shaft, surge tank,
spillway, powcr house)
its
erection and assembly, its ground acquisition, indemnification
and wztcr easement, its maintainance, repair and service during its useful life and the loan
and interest on
it
during its depreciation period (not to forget the salaries for
a
reasonable
board
c;f
directers), must be equal
to
the earning
by
sale
of
energy and other improve-
men
ts.
The inlpleme~ltation of a hydro power plant withdraws available funds, one of the most scarce goods,
from
thc money market for the rather long period of a plant's useful economical life. Raising the
expenses of a plant by borrowing money is the usual practice
[2.1
to
2.31.
Bonds and assurance
provide for
financial safety
[2.5].
2.2.2.
The
electricity rate
In
a
free market the electricity rate depends on the demand. Therefore
it
is usual for energy to be
much cheapcr duril?g the hours of low demand, (e.g. nlght) than during the peak load hours (usually
during the
da;~). Usually certaili power stations are designed to meet base load demand, others to
meet peak load derrand. .4s the duration of peak load demand is shorter than that of base load and
as
thc
cost
uf
a
plant has to be covered by revenues during a certain depreciation period, the
electricity rate depc~icls malnly on the duration of
full
Ioad service per year (see Table
2.2.1).
Setting
*
5
the electricity rate implies cvaliiation of the plant's uses
(2.6
to 2.101. On the other hand in a free
market cconorny, the electricity rate
has to cover the initial cost inciusive of interest, and the
P'
operatins, maintenance ar~d repair. In a multi purpose plant this has to be set with due consideration
of
earnings duc to other benefits, see Table
2.2.1
and
[2.11
to
2.171.
k
3
i
2.2.3.
The
specific investment
cost
per installed
kW
>I
The specific investment costjinstailed
kW
is also an essential factor in planning. Even if this depends
on local circumstances, in general, it is
lo~vered by increasing the power installed, and for
a
given
plant with a certain number of sets of a given type
(e.g. Francis turbines of
a
certain specific speed
and head),
it
is also lo\verzd by increasing the speed and hencc the specific speed of the set. For the
small
number of sets \vhich are normally involved, any economic benefit due to quanti:y production
-by increasing
:he number of sets may
be
excluded.
On the contrary for sets which are usually of large size, increasing the number of
sets increases also
the number of large machine members to be fabricated on large machine tools only available in
limited
numbcrs. Moreovcr
it
increases the number of accessories, manifolds, control mcchanism, the
concrete forms
nccessrlry for the draft tube, spiral casing and pit. Hence usually the specific cost is
luwered by lowering the number of sets in a certain plant.