Coordinated generation and transmission expansion planning in deregulated electricity market considering wind farms

Reza Hemmati, Rahmat-Allah Hooshmand and Amin Khodabakhshian

Renewable Energy, 2016, vol. 85, issue C, 620-630

Abstract: This paper deals with a coordinated generation expansion planning (GEP)–transmission expansion planning (TEP) in competitive electricity market. In the proposed method, GEP and TEP are performed at the same time, with consideration of wind farm uncertainty. The uncertainty is modeled by normal probability distribution function (PDF) and Monte-Carlo simulation (MCS) is used to include the uncertainty into the problem. The planning is managed for two master and slave levels. At slave level, all generation company (GENCO) and transmission company (TRANSCO) maximize their profit and then at master level, the system constraints are checked by independent system operator (ISO). In other words, the proposed planning aims at maximizing the expected profit of all GENCOs and TRANSCOs, while considering security and reliability constraints such as reserve margin and loss of load expectation (LOLE). The proposed problem is a constrained, nonlinear, mixed-integer optimization programming and solved by using particle swarm optimization (PSO) method. Simulation results verify the effectiveness and validity of the proposed planning for maximizing GENCOs and TRANSCOs profit in the presence of wind farm uncertainty under electricity market.

Keywords: Competitive electricity market; Generation expansion planning; Transmission expansion planning; Monte Carlo simulation; Wind farms (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (30)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:renene:v:85:y:2016:i:c:p:620-630

DOI: 10.1016/j.renene.2015.07.019

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