Summary:
Renewable generation technologies are expected to reach unprecedented penetration levels in a number of electric power systems. The increased deployment of these renewable technologies is changing the unit commitment of the rest of generation facilities, increasing the need for cycling. As a result, operation-related issues and their costs become more relevant for an adequate analysis of generation expansion problems. In this study, the authors propose a generation expansion model including an oligopolistic market representation based on an equilibrium approach. It introduces key operation-related constraints, such as minimum stable output, start-ups and shut-downs; and short-term operating costs, such as commitment, start-up and shut-down costs. The proposed model furthermore considers the discrete nature of capacity investment decisions. The authors also propose a heuristic method for solving the arising equilibrium problem, by providing an efficient starting point to the diagonalisation process. This heuristic can lead to reductions of up to 90% in computational time. Finally, case studies are presented in order to illustrate the importance of considering both operational details and a market framework when making generation expansion planning decisions.
JCR Impact Factor and WoS quartile: 2,213 - Q2 (2016); 2,000 - Q3 (2023)
DOI reference:
https://doi.org/10.1049/iet-gtd.2015.1148
Published on paper: June 2016.
Published on-line: June 2016.
Citation:
A. Nogales, S. Wogrin, E. Centeno, Impact of technical operational details on generation expansion in oligopolistic power markets. IET Generation Transmission & Distribution. Vol. 10, nº. 9, pp. 2118 - 2126, June 2016. [Online: June 2016]
