Cost-Optimal Power System Extension under Flow-Based Market Coupling

Simeon Hagspiel (), Cosima Jägemann (), Dietmar Lindenberger (), Tom Brown (), Stanislav Cherevatskiy () and Eckehard Tröster ()
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Simeon Hagspiel: Energiewirtschaftliches Institut an der Universitaet zu Koeln
Cosima Jägemann: Energiewirtschaftliches Institut an der Universitaet zu Koeln
Dietmar Lindenberger: Energiewirtschaftliches Institut an der Universitaet zu Koeln
Tom Brown: Energiewirtschaftliches Institut an der Universitaet zu Koeln
Stanislav Cherevatskiy: Energiewirtschaftliches Institut an der Universitaet zu Koeln
Eckehard Tröster: Energiewirtschaftliches Institut an der Universitaet zu Koeln

No 2013-9, EWI Working Papers from Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)

Abstract: Electricity market models, implemented as dynamic programming problems, have been applied widely to identify possible pathways towards a cost-optimal and low carbon electricity system. However, the joint optimization of generation and transmission remains challenging, mainly due to the fact that diff erent characteristics and rules apply to commercial and physical exchanges of electricity in meshed networks. This paper presents a methodology that allows to optimize power generation and transmission infrastructures jointly through an iterative approach based on power transfer distribution factors (PTDFs). As PTDFs are linear representations of the physical load flow equations, they can be implemented in a linear programming environment suitable for large scale problems. The algorithm iteratively updates PTDFs when grid infrastructures are modifi ed due to cost-optimal extension and thus yields an optimal solution with a consistent representation of physical load flows. The method is first demonstrated on a simpli fied three-node model where it is found to be robust and convergent. It is then applied to the European power system in order to fi nd its cost-optimal development under the prescription of strongly decreasing CO2 emissions until 2050.

Keywords: Power system planning; Power generation and transmission; Iterative linear optimization; PTDF; Electricity market model; Power flow model; Flow-based market coupling (search for similar items in EconPapers)
JEL-codes: C61 H54 L94 Q40 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2013-05-22
New Economics Papers: this item is included in nep-cmp and nep-ene
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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