engleski

Generation expansion planning in the open electricity market

Deregulation of the electricity industry puts important changes on generation expansion planning philosophy. Changes are visible in methodology, modeling and in responsibilities in the planning process. Traditional approach in planning was driven by the least cost objective. Before market opening, one was not worried by investment risk. The "market" was without risk because all consumers were captive. In an open market, investment risk is a key element. An electricity company is not limited by country border Interaction between market parties (generators, traders, customers, government, regulatory body and system operator), their responsibilities and influence on generation expansion planning were analyzed. This work proposes a new approach for generation expansion planning suitable for an open market environment. Pragmatic solution is a combination of existing models and new models designed for short term market analysis and risk assessment. Existing models lack market and financial analysis, while new models lack long term dimension needed for analysis of a power plant life time operation. Possible and suitable solution for generation expansion planning in open electricity market is interaction of existing (traditional) and new (market oriented) models.

expansion planning; least cost; models; power system; risks; vertically integrated company deregulation; open electricity market; generation

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