E. Çelebi
Market-clearing equilibrium models for deregulated electricity markets can inform decision makers on price signals formed in the competitive market and new generation/transmission investment decisions. Planning and investment decisions of the generation companies and transmission system operator (TSO) are driven by economic considerations in response to these price signals and market outcomes. In this paper, a bi-level model is proposed, where the TSO’s network investment decisions in the upper level is made in anticipation of the lower level generation firms’ capacity investment decisions and market-clearing equilibrium. This bi-level programming problem is reformulated by using a mathematical program with equilibrium constraints and recast as a quadratic mixed-integer linear programming problem for computationally efficient results. These models will be useful in planning generation/transmission investments, and analyzing the relations among these investments and the market outcomes.
Keywords: Market equilibrium, generation/transmission investments, bi-/tri-level programming, mathematical programs with equilibrium constraints (MPEC)
Scheduled
TC2 Energy transmission network expansion
May 31, 2016 11:45 AM
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