Journal
IEEE TRANSACTIONS ON POWER SYSTEMS
Volume 26, Issue 2, Pages 940-948Publisher
IEEE-INST ELECTRICAL ELECTRONICS ENGINEERS INC
DOI: 10.1109/TPWRS.2010.2069573
Keywords
Generation investment; mathematical program with equilibrium constraints (MPEC); strategic producer; uncertainty
Categories
Funding
- Junta de Comunidades de Castilla-La Mancha [PCI-08-0102]
- Ministry of Science and Technology of Spain through CICYT [DPI2009-09573]
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This paper provides a methodology to assist a strategic producer in making informed decisions on generation investment. A single target year is considered with demand variations modeled through blocks. The strategic behavior of the producer is represented through a bilevel model: the upper-level considers both investment decisions and strategic production actions and the lower-level corresponds to market clearing. Prices are obtained as dual variables of power balance equations. Rival uncertainties (on offering and investment) are characterized through scenarios. The resulting model is a large-scale mixed-integer LP problem solvable using currently available branch-and-cut techniques. Results pertaining to an illustrative example and a case study are reported and discussed.
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