A decision support tool for generation expansion planning in competitive markets using system dynamics models

• Type: Article in International Conference Proceedings Book
• Date: 2009

Authors

A. J. C. Pereira (Author) FEUP; J. T. Saraiva (Author) FEUP

Conference proceedings International

Title: 2009 IEEE BUCHAREST POWERTECH, VOLS 1-5

Pages: 3059-3065

Bucharest PowerTech Conference

Bucharest, ROMANIA, JUN 28-JUL 02, 2009

Indexing

ISI Web of Knowledge - 0 Citations

Scopus - 9 Citations

INSPEC

Scientific classification

FOS: Engineering and technology > Electrical engineering, Electronic engineering, Information engineering

Other information

Authenticus ID: P-003-T4Z

DOI: 10.1109/ptc.2009.5282184

Abstract (EN): This paper addresses the generation expansion-planning problem describing a model that generation companies and regulators can use to get insight to this problem and to more completely study and characterize different investment decisions. The simulation model considers a number of possible generation technologies and aims at characterizing the corresponding investment plans from an economic point of view having in mind that market prices, the demand growth, investment and operation costs, as well as other factors, are affected by uncertainties. With the objective of helping generation companies and regulators to carry out this planning, we adopted an approach based on System Dynamics. This methodology allows simulating the long-term behavior of electricity markets, namely to help getting insight into the way new generation capacity enters in the market in a liberalized framework. Finally, the paper presents results from a case study illustrating the use of this approach.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 7