Generation Capacity Expansion Planning in Restructured Electricity Markets Using Genetic Algorithm

• Type: Chapter or Part of a Book
• Date: 2013

Authors

Adelino Pereira (Author) FEUP; João Tomé Saraiva (Author) FEUP

Book

Title: Computational Intelligence and Decision Making Trends and Applications

Pages: 215-226

ISBN: 978-94-007-4721-0

Electronic ISBN: 978-94-007-4722-7

Publisher: Springer

Indexing

ISI Proceedings

ISI Web of Science

Scientific classification

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

CORDIS: Technological sciences > Engineering > Electrical engineering

Other information

Abstract (EN): This paper describes an approach to model and to solve the Generation Expansion Planning Problem, GEP, using Genetic Algorithms. This approach was developed in order to help investors in new generation capacity to take decisions regarding new investments. This approach was developed in the scope of the implementation of electricity markets given that they eliminated the traditional centralized planning activities leading to the creation of several generation companies competing to supply the demand. As a result, the generation activity is more risky than in the past and so it becomes important to develop new tools to help decision makers to analyze the investment alternatives, having in mind the possible behavior of the competitors. The developed model aims at maximizing the expected profits that will be obtained by an investor, while it evaluates the reliability and the security of supply and it incorporates uncertainties re-lated with the volatility of electricity prices, with the reliability of generation groups, with the evolution of the demand, and with the operation and investment costs The developed model and the implemented solution algorithm will be applied to a Case Study to illustrate the use of the developed approach to build the expansion plans.

Language: English

Type (Professor's evaluation): Scientific