Optimal Investment Planning Model For Power Plants

Abstract

This paper deals with a computationally simple and efficient linear model developed for selecting optimum expansion plan schedule such as plants’ capacities, their location, types and time of commissioning for an electric utility system over a specified planning horizon and has been tried for the most populous state of India (Uttar Pradesh) for a planning period of 10 years divided into two equal time periods each having two sub-periods i.e. rainy and non rainy. The model is essentially an economic model based on the power system network and minimizes the net present value of total annual cost. The constraints taken into account are the forecasted peak, average demands, plant size limitations, transmission losses, and seasonal variation of demand etc. In order to obtain the desired results of different time intervals of a given time span, time period indexing is also included in the model. Besides, five generation centres with three types of power plants namely thermal, hydro and nuclear or their combinations four load centres have been considered. The results obtained are furnished in the tabular forms.