Power generation service life of the power station

Why are electrical power assets reaching their end of service life?

In particular in North America and other developed countries, the number of electrical power assets reaching their end of service life increased in recent years. This is due the fact that most of the asset population has been put into operation during the boom years 40-50 years ago.

Do power plant owners and operators report planned capacity retirements?

Power plant owners and operators report planned capacity retirements and planned additions to EIA in our annual and monthly electric generator surveys. A previous Today in Energy article describes the 62.8 GW of generating capacity that developers plan to bring on line in 2024.

How many GW of electric generating capacity will be retired in 2024?

Operators plan to retire 5.2 gigawatts (GW) of U.S. electric generating capacity in 2024, a 62% decrease from last year when 13.5 GW was retired and the least in any year since 2008, according to our latest Preliminary Monthly Electric Generator Inventory.

When does a power plant start to operate?

In year one the power plant begins to operate; plant construction takes place in the two years prior to this (years negative two and negative one). In year one, the power plant is assumed to operate 40% of the time due to start-up activities (50% of the year at a capacity factor of 80%).

What happened to Mystic Generating Station?

One of the nation’s oldest power plants, Mystic Generating Station has been providing power in the Boston area since the 1940s. The other five petroleum- and natural gas-fired units at Mystic have already retired, so with these last unit retirements the entire plant is scheduled to shut down when its cost of service agreement expires in May.

How long does a gas-fired power plant last?

Replacement projects may take several years to plan and execute and require significant capital investment. Overall, the lifespan of a gas-fired power plant is dependent on many factors, and maintenance and replacement strategies are critical to ensure reliable and efficient operation over its lifetime.