A Methodology for Generation Expansion Planning In the Restructured Electricity Industry
Demos Teneketzis

Citation
Demos Teneketzis. "A Methodology for Generation Expansion Planning In the Restructured Electricity Industry". Talk or presentation, 4, November, 2015.

Abstract
In the restructured electricity industry, generation expansion planning(GEP) is an oligopoly of strategic generation companies (GenCos) with private information, investing in a highly uncertain environment. Strategic planning and uncertainties can result in market manipulation and under-investment. We consider investment and generation decisions simultaneously in a general framework of N firms and T years planning horizon, and propose a forward moving approach to GEP that allows GenCos to adjust their plans based on the changes in the environment. We also propose an expansion block mechanism that the system operator can apply and has the following features. (F1). It is individually rational. (F2). It is budget balanced. (F3).The expansion and production allocations corresponding to the unique Nash equilibrium of the game induced by the mechanism are the same as those that maximize the sum of the utilities of the producers and the demand. (F4).It is price efficient, that is, the price for electricity at equilibrium is equal to the marginal utility of the demand and the marginal cost of the producers with free capacity.

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Citation formats  
  • HTML
    Demos Teneketzis. <a
    href="http://www.cps-forces.org/pubs/103.html"
    ><i>A Methodology for Generation Expansion Planning
    In the Restructured Electricity
    Industry</i></a>, Talk or presentation,  4,
    November, 2015.
  • Plain text
    Demos Teneketzis. "A Methodology for Generation
    Expansion Planning In the Restructured Electricity
    Industry". Talk or presentation,  4, November, 2015.
  • BibTeX
    @presentation{Teneketzis15_MethodologyForGenerationExpansionPlanningInRestructured,
        author = {Demos Teneketzis},
        title = {A Methodology for Generation Expansion Planning In
                  the Restructured Electricity Industry},
        day = {4},
        month = {November},
        year = {2015},
        abstract = {In the restructured electricity industry,
                  generation expansion planning(GEP) is an oligopoly
                  of strategic generation companies (GenCos) with
                  private information, investing in a highly
                  uncertain environment. Strategic planning and
                  uncertainties can result in market manipulation
                  and under-investment. We consider investment and
                  generation decisions simultaneously in a general
                  framework of N firms and T years planning horizon,
                  and propose a forward moving approach to GEP that
                  allows GenCos to adjust their plans based on the
                  changes in the environment. We also propose an
                  expansion block mechanism that the system operator
                  can apply and has the following features. (F1). It
                  is individually rational. (F2). It is budget
                  balanced. (F3).The expansion and production
                  allocations corresponding to the unique Nash
                  equilibrium of the game induced by the mechanism
                  are the same as those that maximize the sum of the
                  utilities of the producers and the demand. (F4).It
                  is price efficient, that is, the price for
                  electricity at equilibrium is equal to the
                  marginal utility of the demand and the marginal
                  cost of the producers with free capacity. },
        URL = {http://cps-forces.org/pubs/103.html}
    }
    

Posted by Carolyn Winter on 4 Nov 2015.
Groups: forces
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