Summary:
In this task we investigate in depth the generation and transmission expansion planning problem. For this purpose, in Section 2 we present a complete literature review on this capacity expansion problem. In Section 2.1, we present the current models and literature gaps on traditional co-optimization (cost minimization) problems and, in Section 2.2, we do the same for the co-planning equilibrium models that consider the introduction of game theory into this capacity expansion problem. In Section 3 we develop the formulation of the well-known cost-minimization problem that is currently used by the vast majority of TSOs in the world. We present both the deterministic version in Section 3.1 and we present a comparison of diverse scenario based methods to represent wind uncertainty in Section 3.2. Additionally, in Section 4, we formulate the our co-planning equilibrium problem and its properties. In Section 4.1 we present the notation used along the whole Section4 . In Section 4.2 we introduce the novel bi-level generation and transmission expansion planning model. The latter accounts for the fact that both generation expansion and operational decisions are made by distinct profit-maximising GENCOs with different objectives from those of a welfare-maximising TSO. In Section 4.3 we compute the social welfare loss of implementing a cost-minimization model used by TSOs, instead of our proposed approach that allow us to internalise strategic interactions in electricity markets. Finally, in Section 5, we introduce the bi-level generation and transmission expansion planning under uncertainty, we define the stochastic model and a min-mar regret bi-level model, we develop a case and we show some illustrative results.[…]
IIT Project: STEXEM (STEXEM)
Funding entity: Ministerio de Economía, Industria y Competitividad.
Publication date: 01-12-2020
IIT-20-199I
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