Economic benefit analysis of the collaboration between a pumped storage power plant and a thermal power plant

Pumped storage power plants are one of the significant means for regulating power systems， holding crucial importance for their secure， economical， and stable operation. The current research status of economic benefit analysis of pumped storage power plants is introduced， and the static and dynamic economic benefit analysis method of the collaboration between a pumped storage power plant and a thermal power plant is put forward. Moreover， the collaboration between a 4×300 MW pumped storage power plant and a 2×1 000 MW thermal power plant in a region is taken as an example to analyze the economic benefits resulting from their collaboration. The detailed calculation methods for the economic benefits of pumped storage units such as peak shaving and valley filling， frequency modulation， phase modulation， and contingency reserves are presented. These calculations can serve as a rational foundation for the collaboration between pumped storage power plants and thermal power plants