Direct Construction of Optimal Generation Mix

Abstract

A model has been developed for planning the generation mix of a power system at some target year. This optimal target mix algorithm extends the classical screening curves approach to recognize capacity constraints on existing units and it utilizes the mathematical properties of the optimal solution to recursively construct the generation mix. Not only is the method computationally efficient but it also provides conceptual insight into the economic worth of existing units. A series of snapshot optimization decisions using this algorithm has been implemented to develop long-range generation expansion plans. Two case studies illustrating the snapshot procedure on sample power system data are described.