EURO 2024 Copenhagen
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1639. Capacity Expansion Planning under Uncertainty subject to EENS Constraints

Invited abstract in session TD-9: Long-term energy system planning, stream Energy Markets.

Tuesday, 14:30-16:00
Room: 10 (building: 116)

Authors (first author is the speaker)

1. Marilena Zampara
Electric Power, NTUA
2. Daniel Avila
UCLouvain
3. Anthony Papavasiliou
CORE, UCLouvain

Abstract

We present a method for solving a large-scale stochastic capacity expansion problem which explicitly considers reliability constraints, in particular constraints on expected energy not served (EENS). Our method tackles this problem by relaxing the EENS constraints. We solve the relaxed formulation in an iterative manner, using a subgradient-based method. Each iteration requires the solution of a stochastic capacity expansion problem, for which we implement subgradient and cutting plane decomposition schemes that have recently been introduced in the literature and have proven very effective in solving large instances of such models. We implement the proposed methodology on the Economic Viability Assessment (EVA) model that is used by ENTSO-e in the annual European Resource Adequacy Assessment (ERAA). The EVA is extended to include reliability constraints. We are able to solve this “extended” EVA and obtain the least-cost capacity expansion plan for meeting specific reliability requirements per zone, fully accounting for uncertainty. Our approach also allows us to attain the shadow price of load shedding by zone (through the Lagrangian multipliers of the relaxed constraints) which can serve as an indication of the zone-specific VOLL or price cap that could in principle deliver the appropriate level of investments within an energy-only market.

Keywords

Status: accepted

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