“…where crf i , crf j , crf l , and crf b are capital recover factor; ucc r,y,i ($/kW), ucc r,y,j ($/kW), uecc r,y,j ($/kWh), upcc r,y,l ($/kW/km), and upcc y,b,i ($/toe/km) are unit fixed cost; rc r,y,i (GW), rc r,y,j (GW), rec r,y,j (GWh), rc y,l (GW), and rc y,b,i (mtoe) are remaining capacity from the base year of i th power plant, j th storage technology, l th transmission line and bth fuel transportation line in year y and node r, l l (km) is length of transmission line, and l b,i (km) is length of bth fuel transportation line transporting fuel to i th power plant. The annual variable costs for a given year include the cost associated with domestic, transported, and imported fuels required for thermal power plants and carbon tax levied on the emissions as illustrated in (7)- (10). For indigenous fuel, it is calculated considering the cost grade of available fuel, freight rate, the distance between power plants and mines/fields, and government service tax.…”