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    Economic Transmission Augmentation With Explicit Modeling of the Competition Benefit

    133324_StreamGate.pdf (322.7Kb)
    Access Status
    Open access
    Authors
    Hesamzadeh, M.
    Biggar, D.
    Hosseinzadeh, N.
    Wolfs, Peter
    Date
    2010
    Type
    Journal Article
    
    Metadata
    Show full item record
    Citation
    Hesamzadeh, Mohammad and Biggar, Darryl and Hosseinzadeh, Nasser and Wolfs, Peter. 2010. Economic Transmission Augmentation With Explicit Modeling of the Competition Benefit. IEEE Transactions on Power Systems. 25. (In Press)
    Source Title
    IEEE Transactions on Power Systems
    ISSN
    08858950
    Faculty
    Department of Electrical and Computer Engineering
    School of Engineering
    Faculty of Science and Engineering
    Remarks

    Copyright © 2010 IEEE This material is presented to ensure timely dissemination of scholarly and technical work. Copyright and all rights therein are retained by authors or by other copyright holders. All persons copying this information are expected to adhere to the terms and constraints invoked by each author's copyright. In most cases, these works may not be reposted without the explicit permission of the copyright holder.

    URI
    http://hdl.handle.net/20.500.11937/6239
    Collection
    • Curtin Research Publications
    Abstract

    This paper derives and evaluates a mathematical structure for identifying economically-efficient transmission augmentations. The mathematical structure is based on the concepts of sequential-move and simultaneous-move games in applied mathematics. The Nash equilibrium solution concept has been reformulated as an optimization problem in the proposed structure. The problem of multiple Nash equilibria is managed by introducing the concept of the worst-case Nash equilibrium. Both the economic concepts of the "efficiency benefit" and "competition benefit" of the transmission capacity are explicitly modeled in the proposed structure. A simple three-bus example system and Garver's example system are employed and modified to suit the purpose of analysis. A thorough economic study of these example systems is presented to highlight the concept and operation of the proposed mathematical structure from different perspectives. The results demonstrate the utility of the proposed structure for measuring the total economic efficiency benefit of additional transmission capacity.

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