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A multi-agent generation expansion planning (GEP) simulation is useful for electricity market design. However, most preceding studies which assume a deterministic strategy didn't consider important elements of the multi-agent GEP, e.g. probabilistic strategy and multiple determination timing over years. This paper models the multi-agent GEP problem as an uncooperative stochastic strategy dynamic game,...
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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