A Model for the Multiperiod Multiobjective Power Generation Expansion Problem

A long-term multiobjective model for the power generation expansion planning of electric systems is described and evaluated in this paper. The model optimizes simultaneously multiple objectives (i.e., minimizes costs, environmental impact, imported fuel and fuel price risks) and decides the location...

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Bibliographic Details
Published in:IEEE transactions on power systems 2007-05, Vol.22 (2), p.871-878
Main Authors: Meza, J.L.C., Yildirim, M.B., Masud, A.S.M.
Format: Article
Language:English
Subjects:
Analytical hierarchy process
Costs
Environmental impact
Financing
Fossil fuels
Fuels
generation expansion planning
Investment
Investments
Mathematical models
multicriteria optimization
operations research
Optimization methods
Power generation
Power generation economics
Power generation planning
Power system modeling
Power system planning
Process planning
Risk
transmission expansion planning
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Summary:A long-term multiobjective model for the power generation expansion planning of electric systems is described and evaluated in this paper. The model optimizes simultaneously multiple objectives (i.e., minimizes costs, environmental impact, imported fuel and fuel price risks) and decides the location of the planned generation units in a multiperiod planning horizon. Among the attributes considered in the model are the investment and operation cost of the units, the environmental impact, the amount of imported fuel, and the portfolio investment risk. The approach to solve this problem is based on multiobjective linear programming and the analytical hierarchy process. A case study from the Mexican Electric Power System is used to illustrate the proposed framework
ISSN:0885-8950
1558-0679
DOI:10.1109/TPWRS.2007.895178