Generation Expansion Planning with presenting a two-level model in order to cover the uncertainty in the competitive market

Subject Areas : Operation Research

Saeed Shahbazian ¹ , Saeed Kharrati ^{2 *} , Abdollah Rastgou ³

1 - Department of Electrical Engineering, Kermanshah Branch, Islamic Azad University, Kermanshah, Iran
2 - Department of Electrical Engineering, Kermanshah Branch, Islamic Azad University, Kermanshah, Iran
3 - Department of Electrical Engineering, Kermanshah Branch, Islamic Azad University, Kermanshah, Iran

Received: 2023-03-11 Accepted : 2025-06-30 Published : 2025-01-13

Keywords: generation expansion planning, production investment, stochastic optimization, uncertainty set,

Abstract :

This paper considers investing in conventional and stochastic units simultaneously for a strategic producer with various un-certainty parameters including load forecast and rivals' production forecast as well as retailers' price offer and rival producers' price offer. generation expansion planning (GEP) Provides in the energy markets through a Bi-level model. Uncertainty is determined by scenarios. In other studies, the cost of stochastic production units and related revenues are predicted in the model. The model can be solved using branch and cut techniques.