Dynamic stochastic EPEC model for competition of dominant producers in generation expansion planning

Valinejad, Jaber, Marzband, Mousa, Barforoshi, Taghi, Kyyra, Jorma and Pouresmaeil, Edris (2018) Dynamic stochastic EPEC model for competition of dominant producers in generation expansion planning. In: 5th International Symposium on Environment Friendly Energies and Applications, 24-26 September 2018, Rome.

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Abstract

This paper aims to presents dynamic stochastic an equilibrium problem with equilibrium constraints (DSEPEC) model to invistigate the generation capacity expansion at a certain time horizon and the presence of dominant producers. The DSEPEC model is proposed while there is an uncertainty in the predicted demand, and it is modeled based on discrete Markov model. Each dominant producer is modeled by a bi-level optimization problem so that the first level and the second level provide models for the investment and operation decisions, respectively. The supply function equilibrium (SFE) is used for short-term electricity market. Then, each bi-level model is convert to dynamic stochastic mathemathical problem with equilibrium constraints (DSMPEC). To convert DSEPEC to an auxiliary MILP problem, Karush-Kuhn-Tucker (KKT) conditions as well as primal–dual transformation. A sample twobuses power network is employed for simulation and necessary analysis to confirm the efficiency of the proposed framework.

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