A bi-level integrated generation-transmission planning model incorporating the impacts of demand response by operation simulation

Zhang, Ning; Hu, Zhaoguang; Springer, Cecilia; Li, Yanning; Shen, Bo

doi:10.1016/j.enconman.2016.06.020

Cited by 55 publications

(19 citation statements)

References 40 publications

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“…In a distribution system, multiple potential stakeholders offer distinct demand response incentive compensation schemes (DRICSs), competing with each other to become a power retailer [9]- [13]. These DRICSs will derive different demand response (DR) load adjustment results [14]- [17]. Under the environment described above, the peer competition with information asymmetry results in a significant challenge to the distribution system planning, in terms of different stakeholders.…”

Section: Introductionmentioning

confidence: 99%

Multi-Lateral Participants Decision-Making: A Distribution System Planning Approach With Incomplete Information Game

Liu

Yang

Dong³

et al. 2020

IEEE Access

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Competition on distributed generation (DG) investments among multiple stakeholders in a distribution system results in incompleteness of market information, in which each stakeholder does not have full knowledge on investment and operation decisions of other participants. It leads to an incomplete information game among multiple stakeholders. This paper discusses a multilateral incomplete information game based approach to study distribution system planning while considering both supply and demand sides competitions. Profit models of three types of stakeholders, including DG investors (i.e., DG units are investor-owned), electricity consumers, and the distribution company, are constructed. The interaction among the stakeholders and their gaming behavior are further studied under the context of multilateral incomplete information. Bayesian Nash equilibrium form of the multilateral incomplete information game is obtained via Harsanyi transformation. An improved co-evolutionary algorithm is adopted to find the Bayesian Nash equilibrium. Simulation results on a modified IEEE 33-bus test system show that, compared with the complete information game method, the proposed approach presents higher expected profits and more accurate planning schemes. Indeed, the proposed approach reflects the realistic planning process of distribution systems under a deregulated competitive environment, and it ensures fairness of competition among self-interested independent stakeholders while guaranteeing their individual performance. INDEX TERMS Distribution system planning, multilateral incomplete information game, Bayesian Nash equilibrium, Harsanyi transformation, co-evolutionary algorithm. NOMENCLATURE A. INDICES

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Section: Introductionmentioning

confidence: 99%

Multi-Lateral Participants Decision-Making: A Distribution System Planning Approach With Incomplete Information Game

Liu

Yang

Dong³

et al. 2020

IEEE Access

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“…Therefore, it is known that the EAGAS model makes it possible to obtain an optimal operating plan under complex and various conditions such as probabilistic production cost [4]. In particular, some studies attempted to obtain optimal operating plans with the objective of minimizing costs or maximizing the contribution of renewable energy source using the EGEAS [5][6][7][8]. On the other hand, the real option model has developed to evaluate the economic values of investment in real assets and make a strategic decision making whether to invest or not considering uncertain environment, and many studies have been conducted using real option methodologies that are appropriate for deriving economic value or optimal strategic decision path of RE R&D investment considering effects of uncertainties [9][10][11].…”

Section: Introductionmentioning

confidence: 99%

Real Option Valuation of the R&D Investment in Renewable Energy Considering the Effects of the Carbon Emission Trading Market: A Korean Case

Kim

Lee

2020

Energies

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A carbon market was introduced for the first time in January 2005, when the EU assigned carbon emission allowances to approximately 15,000 enterprises in 25 countries and established a market for emissions trading. In Korea, the carbon emission trading system started from January 2015 with three phases running up to 2025. As many countries have introduced carbon markets, new evaluation models that consider not only fossil energy prices but also carbon emission costs are necessary because additional costs of using fossil energy might have been incurred due to carbon emissions. The purpose of this paper is to develop a real option model that considers not only the uncertainty of existing fossil energy prices, but also the uncertainty of carbon emission rights prices, in evaluating the economic value of renewable energy R&D. Using the real option model, we attempted to assess the effects of the uncertainty of newly appearing carbon markets on the economic value of renewable energy R&D in Korea empirically. Furthermore, we derived an optimal decision path according to the uncertain future situations of fossil energy and carbon markets by analyzing a trinomial lattice model in which the optimal timings of R&D and deployment are identified.

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Section: Introductionmentioning

confidence: 99%

“…There are various power system planning tools to reinforce electric power systems to face increasing load demands and raising penetration levels of renewable energy resources. 1 Generation and transmission expansion planning (G&TEP) are two of the main programs in the power systems. The objectives of these problems are to determine the optimal location, technology, capacity, and time to install new generation units and lines on the network while planning mainly considers cost as an objective function and solves the problems subject to a set of security, operational, and economic constraints.…”

Section: Introductionmentioning

confidence: 99%

Advanced model for joint generation and transmission expansion planning including reactive power and security constraints of the network integrated with wind turbine

Khob

Moazzami

Hemmati

2018

Int Trans Electr Energ Syst

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Summary This paper presents coordinated generation and transmission expansion planning (G&TEP) considering environmental pollutions and reliability in the presence of wind‐generating units and Flexible Alternating Current Transmission System (FACTS) devices. The proposed problem is expressed as a constrained optimization programming that aims at maximizing profit of generation and transmission owners as an objective function. The constraints of the problem include security constraints of alternating current (AC) power flow, wind unit operation, FACTS device operation, and reliability equations. Moreover, the produced power by wind turbines is modeled by probability function, and stochastic programming is adopted to cope with such uncertainty. The planning also calculates the expected energy not supplied (EENS) as a part of the objective function (ie, planning cost). The problem is expressed by means of mixed‐integer nonlinear programming (MINLP) and then linearized as a mixed‐integer linear programming (MILP) to confirm the optimal solution. The linear model is implemented in the Generalized Algebraic Modeling System (GAMS) software. Simulation results are carried out on a large‐scale electrical network, emphasizing the capability and efficiency of the introduced planning to expand the network under uncertainty. Also, the impacts of pollution, FACTS devices, and reliability on planning are demonstrated by numerous analyses and discussions, and it is confirmed that considering such items improves planning.

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A bi-level integrated generation-transmission planning model incorporating the impacts of demand response by operation simulation

Cited by 55 publications

References 40 publications

Multi-Lateral Participants Decision-Making: A Distribution System Planning Approach With Incomplete Information Game

Multi-Lateral Participants Decision-Making: A Distribution System Planning Approach With Incomplete Information Game

Real Option Valuation of the R&D Investment in Renewable Energy Considering the Effects of the Carbon Emission Trading Market: A Korean Case

Advanced model for joint generation and transmission expansion planning including reactive power and security constraints of the network integrated with wind turbine

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