Costs and benefits of transmission congestion management

Ilić, Marija; Bachovchin, Kevin; Lewis, Amelia S.

doi:10.1109/psce.2011.5772585

Cited by 5 publications

(2 citation statements)

References 2 publications

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“…8 It therefore does not address the question of the optimal time to expand. There are other ways to relieve congestion in addition to grid expansions (see for instance Ilić et al [35] or Buijs et al [12]), but they fall beyond the scope of this paper. And some transmission 'expansions' can indeed increase congestion (Blumsack et al [6], Bushnell and Stoft [13]), but they are more the exception than the rule.…”

Section: Methodsmentioning

confidence: 99%

Market-based valuation of transmission network expansion. A heuristic application in GB

Gómez

Abadie

Neufville

et al. 2012

Energy

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Transmission investments are currently needed to meet an increasing electricity demand, to address security of supply concerns, and to reach carbon emissions targets. A key issue when assessing the benefits from an expanded grid concerns the valuation of the uncertain cash flows that result from the expansion. We develop a valuation model which combines optimization techniques, Monte Carlo simulation over the expansion project lifetime, and market data from futures contracts on commodities. The model allows for random failures in generation and transmission infrastructure. Uncertainty stems also from nodal loads, fuel prices, allowance prices, wind generation, and hydro generation. Thus the model accounts for the stochastic dynamics on both the demand side and the supply side. To demonstrate the model by example, we consider a simplified network with two nodes. It is intended to broadly resemble the power generation sectors in England/Wales and Scotland. We then focus on the proposed Western HVDC subsea link. We simulate the whole distribution of effects on system costs, carbon emissions, and unserved load.

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