Risk-Constrained Transmission Investing of Generation Companies

Karimi, Maziar; Kheradmandi, Morteza; Pirayesh, Abolfazl

doi:10.1109/tpwrs.2018.2875509

Cited by 6 publications

(5 citation statements)

References 24 publications

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“…It is assumed that the operation cost of GenCos in the base year for both test cases are as in [28]. It is also assumed that the generators make no change in their bidding within the stages [29].…”

Section: Case Studymentioning

confidence: 99%

“…To examine the proposed investment structure on a larger system, the method is applied on the IEEE 118‐bus test system. The electrical data, bid functions of generators, and the construction cost of the transmission lines are found in [28]. The load blocks are modelled as in the IEEE 24‐bus case study.…”

Section: Case Studymentioning

confidence: 99%

“…The case studies are conducted on the IEEE 24-bus reliability system and the IEEE 118-bus system. The parameters of these networks can be found in [28]. The planning horizon is assumed to be 10 years, which is divided into five two-year stages.…”

Section: Case Studymentioning

confidence: 99%

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Merchant transmission investment by generation companies

Karimi

Kheradmandi

Pirayesh

2020

IET Generation, Transmission & Distribution

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Budget constraints may cause delays in the development of transmission expansion projects. These delays increase the probability of congestion in power systems. The congestions preclude a non-discriminatory access of Generation Companies (GenCos) to transmission network, thus leading to financial losses to certain GenCos. On the other hand, a higher degree of risk is involved in transmission investment, and a long time period is required to return the capital cost. It would, therefore, be effective to offer structures to promote merchant investments in order to lighten the financial burden on the transmission service provider to avoid lengthy delays. This paper proposes a structure to involve the GenCos in merchant transmission investment. The rationale for engaging in such projects is that, as well as the profit from the merchant investment, the GenCos could make further profit from energy production by gaining improved access to load areas. The merchant investment cost of the transmission project is returned through long-term firm contracts together with revenues from financial transmission right. The most profitable plan of the GenCo is identified by conducting a cost-benefit analysis among expansion plans specified by the transmission system operator.

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Section: Case Studymentioning

confidence: 99%

Section: Case Studymentioning

confidence: 99%

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Merchant transmission investment by generation companies

Karimi

Kheradmandi

Pirayesh

2020

IET Generation, Transmission & Distribution

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“…Note that bilinear terms exist in both objective function (31) and constraint (36). The bilinear terms ð½zP min g Þ T u 8 and ð½zP max g Þ T u 9 in the objective function are the product of a binary variable and a continuous variable.…”

Section: Solution Techniquesmentioning

confidence: 99%

“…4, which has 24 buses, 33 generators, 38 existing lines and 38 candidate lines, i.e., each existing line corresponds to one candidate line. The construction cost of transmission lines is set to $0.2 million per mile [31]. The total generation capacity is 3405 MW, and the total load is 2850 MW.…”

Section: Ieee Rts 24-bus Test Systemmentioning

confidence: 99%

A contingency-aware method for N-2 security-constrained transmission expansion planning

Liu

Cheng

2019

J. Mod. Power Syst. Clean Energy

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In this paper, a novel contingency-aware method for N-2 security-constrained transmission expansion planning is proposed. To ensure that the transmission construction plan satisfies the N-2 security criterion, the proposed method takes advantage of the adjustable robust optimization (ARO) framework and upgrades it. We construct a discrete uncertainty set in which component failures are treated as uncertain events that are handled as binary variables. In addition to the failure of existing lines and generators, we explicitly model the failure of candidate lines. The proposed model comprises a master problem that makes the transmission construction decision, and a series of subproblems that can detect not only the worst contingency, but also the potential contingencies. Computational studies on the IEEE RTS 24-bus and IEEE 118-bus test systems are carried out to validate the effectiveness of the proposed method. Compared with the deterministic method and ARO method in the literature, the proposed method has higher computational efficiency.

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