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Benefits of Chronological Optimization in Capacity Planning for Electricity Markets

Published 25 April 2016 | By Energy Exemplar

Long-term capacity expansion planning is constrained by computing performance; hence the load duration curve (LDC) approach is commonly adopted for such long-term models. In this paper chronology is retained in deterministic modelling of long-term investment decisions along with an accurate production cost model co-optimization that accounts for inter-temporal constraints of thermal plants. The South Australian system has been modelled in the PLEXOS® simulation software.

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Benefits of Chronological Optimization in Capacity Planning for Electricity Markets