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INVESTMENT PLANNING FOR ELECTRICITY GENERATION EXPANSION
Author(s) -
Pokharel Shaligram,
Ponnambalam K.
Publication year - 1997
Publication title -
international journal of energy research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.808
H-Index - 95
eISSN - 1099-114X
pISSN - 0363-907X
DOI - 10.1002/(sici)1099-114x(199702)21:2<185::aid-er233>3.0.co;2-z
Subject(s) - electricity , investment (military) , electricity generation , environmental economics , electricity demand , environmental science , business , natural resource economics , economics , engineering , electrical engineering , physics , power (physics) , political science , quantum mechanics , politics , law
Some of the essential features of electricity generation expansion planning are discussed here. The emphasis in this paper is on the development of a methodology to analyse electricity planning problems when the variables are deterministic and stochastic in nature. Our analysis with a test problem indicates that if the stochastic nature of supply and demand can be specified, a more cost effective electricity generation expansion plan can be prepared. The proposed methodology is expected to be useful for energy planners in modelling and implementing investment plans for energy supply. © 1997 by John Wiley & Sons, Ltd.