A price-based approach to generation investment planning in electricity markets

Fonseka, P.A.J., Saha, T. K. and Dong, Z.Y. (2008) A price-based approach to generation investment planning in electricity markets. IEEE Transactions on Power Systems, 23 4: 1859-1870. doi:10.1109/TPWRS.2008.2002287


Author Fonseka, P.A.J.
Saha, T. K.
Dong, Z.Y.
Title A price-based approach to generation investment planning in electricity markets
Journal name IEEE Transactions on Power Systems   Check publisher's open access policy
ISSN 0885-8950
Publication date 2008-11-01
Year available 2008
Sub-type Article (original research)
DOI 10.1109/TPWRS.2008.2002287
Open Access Status
Volume 23
Issue 4
Start page 1859
End page 1870
Total pages 12
Editor Vittal, V.
Place of publication USA
Publisher IEEE
Language eng
Subject C1
0906 Electrical and Electronic Engineering
850603 Energy Systems Analysis
Abstract A generation planning framework is developed for a competitive, energy-only electricity market. The framework developed combines decentralized merchant investment plans stemming from market signals and technological preferences, with centralized resource planning concepts to decide optimal time-ordered investment decisions. The investment decisions maximize the new entrants' net surpluses and minimize the consumer interruption cost, accounting for many uncertain variables and technical details. The optimal plan given by the main centralized framework represents the system planner's solution derived from the set of decentralized plans. An illustrative case study is given in the paper, applying the proposed framework to the Queensland region of the National Electricity Market of Australia.
Keyword electrical engineering
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: 2009 Higher Education Research Data Collection
School of Information Technology and Electrical Engineering Publications
 
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Citation counts: TR Web of Science Citation Count  Cited 7 times in Thomson Reuters Web of Science Article | Citations
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Created: Sun, 05 Apr 2009, 19:03:28 EST by Donna Clark on behalf of School of Information Technol and Elec Engineering