Risk-averse transmission and generation planning: a WECC case study

Adriaan Van Der Weijde, Francisco David Munoz, Benjamin F. Hobbs, Jean-Paul Watson

Research output: Contribution to conferencePaper

Abstract

We investigate the effects of risk aversion on optimal transmission and generation expansion planning. To do so, we formulate a stochastic model in which transmission and generation planners minimize a weighted average of expected costs and their conditional values at risk. This model is then applied to a 240-bus representation of the Western Electricity Coordinating Council, in which we examine the impact of risk aversion on levels and spatial patterns of investment, costs, and prices.
Original languageEnglish
Publication statusUnpublished - 2 Nov 2015
EventINFORMS Annual Meeting - Philadelphia, United States
Duration: 1 Nov 20144 Nov 2015

Conference

ConferenceINFORMS Annual Meeting
CountryUnited States
CityPhiladelphia
Period1/11/144/11/15

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