Market-Based Generation and Transmission Planning With Uncertainties

By Jae Hyung Roh, Mohammad Shahidehpour, Lei Wu. IEEE Transactions on Power Systems, 2009

314 citations recorded by the source corpus.

This paper presents a stochastic coordination of generation and transmission expansion planning model in a competitive electricity market. The Monte Carlo simulation method is applied to consider random outages of generating units and transmission lines as well as inaccuracies in the long-term load forecasting. The scenario reduction technique is introduced for reducing the computational burden of a large number of planning scenarios. The proposed model assumes a capacity payment mechanism and a joint energy and transmission market for investors' costs recovery. The proposed approach simulates the decision making behavior of individual market participants and the ISO. It is an iterative process for simulating the interactions among GENCOs, TRANSCOs and ISO. The iterative process might be terminated by the ISO based on a pre-specified stopping criterion. The case studies illustrate the applications of proposed stochastic method in a coordinated generation and transmission planning problem when considering uncertainties.

Subfields: Electrical and Electronic Engineering, Safety, Risk, Reliability and Quality

View Paper: https://www.semanticscholar.org/paper/97364041449f64946e6195bc8e47f903b64b12fc

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Citations in the corpus

Multi-Stage Flexible Expansion Co-Planning Under Uncertainties in a Combined Electricity and Gas Market (2015, methodology): “The detailed load blocks in base year are set according to [19], as given in Table I.”
Multistage Stochastic Investment Planning With Multiscale Representation of Uncertainties and Decisions (2018, background): “Stochastic optimization, as a framework for modeling optimization problems that involve uncertainty, constitutes a useful tool for capturing the impacts of such uncertainties [2], [5]–[8], [10].”
Bi-Level Game Approaches for Coordination of Generation and Transmission Expansion Planning Within a Market Environment (2013, background): “[13] included uncertainty regarding random outage of generating units and transmission lines as well as inaccuracies of long term load forecast.”
Security-Constrained Co-Optimization Planning of Electricity and Natural Gas Transportation Infrastructures (2015, background): “A market-based coordination between the generation and transmission expansion planning is proposed in [5].”
A review of electricity product differentiation (2014, background): “When compared to an integrated utility, the ISO has very little control over non-transmission resource output and investment, and hence faces greater uncertainty regarding generator behavior and the timing and location of new resource additions [80–87].”
Transmission and Wind Power Investment (2012, background): “In [8], the interaction among producers, transmission companies, and the ISO is simulated in a competitive market in which a capacity payment mechanism is considered to promote agents’ investments.”
Optimal Expansion Planning of Energy Hub With Multiple Energy Infrastructures (2015, background): “A market-based coordinated planning of electric power generation and transmission systems is proposed in [4].”
Toward Fully Renewable Electric Energy Systems (2015, methodology): “References [5] and [6] present a market-based model to coor-”
Robust Optimization for Transmission Expansion Planning: Minimax Cost vs. Minimax Regret (2014, background): “In [3]–[6], uncertainties including load prediction inaccuracies, transmission line and generator outages, generation and transmission line capacity factors are considered.”
Co-optimization of electricity transmission and generation resources for planning and policy analysis: review of concepts and modeling approaches (2016, methodology): “Stochastic programming was applied in [66, 67] to simulate random outages of system components.”