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In a deregulated power system, generation companies would like to maximize their profits and share of the electricity market. This can only be achieved if transmission access and network availability is satisfactory. New mathematical models for generation and transmission planning are thus needed. The problem is divided into two sub-problems of generation and transmission. The two sub-problems will...
In this presentation, the authors propose a new framework for a generation expansion planning (GEP) applicable in a competitive environment using a genetic algorithm (GA). Unlike the traditional approaches, the new GEP in a competitive market is very complex due to conflicts among generation companies (GENCOs). The objective function of each GENCO for investment decision-making is to maximize its...
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