Generation Expansion Planning in Competitive Electricity Markets

Pereira, Adelino J. C.; Saraiva, João Tomé

doi:10.1109/pct.2007.4538434

Cited by 10 publications

(6 citation statements)

References 7 publications

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“…In the developed formulation of the GEP in a restructured electricity market, the objective is to maximize the total expected profit of each individual generation company over a planning horizon (9), while guaranteeing the safe operation of the power systems through the competition between generation companies [10,11]. The developed formulation incorporates the volatility of market prices of electricity and fuels and load growth.…”

Section: Generation Expansion Planning Modelmentioning

confidence: 99%

“…Due to the volatile nature of the market, some sources of uncertainty in future operating conditions such as the forecasted market price of electricity, load growth rates, fuel costs and equipment availability are also considered in the planning exercise. The GEP problem stated for a generation company i in a competitive environment can be formulated according to (9)(10)(11)(12)(13)(14)(15). In this problem the decision variables are In this formulation, the objective function maximizes the profit of each generation company i and it includes three terms as follows.…”

Section: Generation Expansion Planning Modelmentioning

confidence: 99%

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Evaluation of the Impact of Wind Generation on the Electricity Market Prices and on the Profitability of New Wind Investments

Pereira¹,

Saraiva

2012

EPJ Web of Conferences

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Abstract. This paper describes a Dynamic Model of the electricity sector that can be used to simulate the evolution of some key variables on the long term, namely the evolution of the electricity price, of the demand and of the capacity factors of the technologies in the generation mix. This model can be used in different ways and by several agents, for instance to estimate the impact on the electricity price of the increasing presence of renewable power stations, namely using wind power and PV systems. In several countries these stations are paid feed-in tariffs with a fixed price but in some cases this scheme is under discussion and there are opinions that payments determined by the market price are more adequate and would bring fewer costs to final consumers. Such a change has to be carefully evaluated given that the presence of renewable stations bidding at an infra marginal price will affect the price itself. The model described in this paper can be used in a profitable way both by governmental agencies when preparing or studying alternative remuneration schemes to renewable stations or by promoters themselves to get more insight to the profitability of their investments, namely if the fixed feed-in tariffs in force in several countries are changed.

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Section: Generation Expansion Planning Modelmentioning

confidence: 99%

Section: Generation Expansion Planning Modelmentioning

confidence: 99%

Evaluation of the Impact of Wind Generation on the Electricity Market Prices and on the Profitability of New Wind Investments

Pereira¹,

Saraiva

2012

EPJ Web of Conferences

View full text Add to dashboard Cite

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“…If necessary, that is if the investments plans are unable to obtain an adequate adequacy, we can define incentive schemes to induce new investments, for instance simulating an increase of the capacity payment per MW in reserve. These alterations are then conveyed to the investors so that the expansion plans are updated as detailed in [23].…”

Section: B Optimisation Problemmentioning

confidence: 99%

Building generation expansion plans - a decision aid approach to use in competitive electricity markets

Pereira¹,

Saraiva²

2010

7th Mediterranean Conference and Exhibition on Power Generation, Transmission, Distribution and Energy Conversion (MedPower 201

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Generation expansion planning gained a new dimension with the advent of electricity markets. It is now an activity decoupled from transmission and there are several agents competing to generate electricity and aiming at maximizing their individual profits. In view of this, it becomes more important to develop tools to help generation agents to build their expansion plans, internalizing several uncertainties in the model, an being able to simulate different possible reactions of the other competitors, given their impact in the profits of the agent being modelled. In this paper, we present a long-term decision aid tool that uses System Dynamics to model the long run of electricity markets together with Genetic Algorithms to solve the individual expansion problem of generation agents given their mixed-integer nature. Apart from the detailed description of the developed approach, the paper also includes a Case Study based on a four generation agent system to illustrate its application.

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“…1 shows the basic structure of the proposed new GEP problem. Further details on this approach can be obtained in [7]. …”

Section: A Generation Investment In the Electricity Marketmentioning

confidence: 99%

A decision support tool for generation expansion planning in competitive markets using System Dynamics models

Pereira

Saraiva

2009

2009 IEEE Bucharest PowerTech

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This paper addresses the generation expansionplanning problem describing a model that generation companies and regulators can use to get insight to this problem and to more completely study and characterize different investment decisions. The simulation model considers a number of possible generation technologies and aims at characterizing the corresponding investment plans from an economic point of view having in mind that market prices, the demand growth, investment and operation costs, as well as other factors, are affected by uncertainties. With the objective of helping generation companies and regulators to carry out this planning, we adopted an approach based on System Dynamics. This methodology allows simulating the long-term behavior of electricity markets, namely to help getting insight into the way new generation capacity enters in the market in a liberalized framework. Finally, the paper presents results from a case study illustrating the use of this approach.

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Generation Expansion Planning in Competitive Electricity Markets

Cited by 10 publications

References 7 publications

Evaluation of the Impact of Wind Generation on the Electricity Market Prices and on the Profitability of New Wind Investments

Evaluation of the Impact of Wind Generation on the Electricity Market Prices and on the Profitability of New Wind Investments

Building generation expansion plans - a decision aid approach to use in competitive electricity markets

A decision support tool for generation expansion planning in competitive markets using System Dynamics models

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