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.
|Publication status||Unpublished - 2 Nov 2015|
|Event||INFORMS Annual Meeting - Philadelphia, United States|
Duration: 1 Nov 2014 → 4 Nov 2015
|Conference||INFORMS Annual Meeting|
|Period||1/11/14 → 4/11/15|