期刊
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
卷 292, 期 2, 页码 696-713出版社
ELSEVIER
DOI: 10.1016/j.ejor.2020.10.055
关键词
OR in energy; Neighboring markets; Renewable and network expansion; Multilevel optimization; Benders decomposition
资金
- Bavarian State Government
- Emerging Talents Initiative (ETI) of the Friedrich-Alexander-Universitat Erlangen-Nurnberg
- Deutsche Forschungsgemeinschaft [Sonderforschungsbereich/Transregio 154]
This paper presents models for analyzing the impact of interdependencies between a core electricity market and its neighboring markets on long-term decisions, and highlights the importance of considering benefits from cross-border electricity trading when optimizing investments in transmission lines and renewable capacity.
Many long-term investment planning models for liberalized electricity markets either optimize for the entire electricity system or focus on confined jurisdictions, abstracting from adjacent markets. In this paper, we provide models for analyzing the impact of the interdependencies between a core electricity market and its neighboring markets on key long-run decisions. This we do both for zonal and nodal pricing schemes. The identification of welfare optimal investments in transmission lines and renewable capacity within a core electricity market requires a spatially restricted objective function, which also accounts for benefits from cross-border electricity trading. This leads to mixed-integer nonlinear multilevel optimization problems with bilinear nonconvexities for which we adapt a Benders-like decomposition approach from the literature. In a case study, we use a stylized six-node network to disentangle different effects of optimal regional (as compared to supra-regional) investment planning. Regional planning alters investment in transmission and renewable capacity in the core region, which affects private investment in generation capacity also in adjacent regions and increases welfare in the core region at the cost of system welfare. Depending on the congestion-pricing scheme, the regulator of the core region follows different strategies to increase welfare causing distributional effects among stakeholders. (C) 2020 Elsevier B.V. All rights reserved.
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