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UNIT 7 & 8
Optimal Power system expansion planning
Formulation of least cost optimization problem
incorporating the capital, operating and
maintenance cost of candidate plants of
different types (thermal, hydro, nuclear, non
conventional etc),
Optimization techniques for solution by
programming.
• Flow chart showing the Components of
Planning
Logic for least-cost planning
THE PROCESS OF LEAST COST PLANNING
Optimal power System Expansion
Planning
• Problem Definition
• The objective function consists, generally, of
Objective function = Capital costs + Operation
costs
The first term is, mainly due to
• Investment costs (Cinv)
• Salvation value of investment costs (Csalv)
• Fuel inventory costs (Cfinv)
While, the second term, consists, mainly, of
• Fuel costs (Cfuel)
• Non-fuel operation and maintenance costs
(CO&M)
• Cost of energy not served (CENS)
Problem Description
Let us consider a case in which the aim is to
determine the generation capacity for year ‘t’ in
which the peak load is PLt. If PGt denotes the
available generating capacity in year t, it will be a
function of
Kt = Already committed units + New units
additions - Units retired Kt
Moreover, if Rest denotes the minimum reserve
margin (in %), the following inequality should be
met
Moreover, suppose the available plant candidate
plants are :