Transmission Investment Assessment Under Uncertainty

PI: 
Hobbs, Ben
Project Status: 
Completed

This project is developing methods that integrate capacity expansion decisions and OPF methodologies in a decomposition scheme in order to rigorously capture operational constraints such as security constraints, ramp limitations, and transmission flow limits—as well as longer-term investment issues. The methodology addresses questions such as the identification of robust transmission investments, the cost of disregarding uncertainty, the value of information, and option values.  The effects of approximations, such as scenario simplification, network aggregation, convex relaxations of unit commitment constraints, upon optimal solutions are assessed.

Related Publications

Hobbs, Benjamin F, Qingyu Xu, Jonathan Ho, Pearl Donohoo, Saamrat Kasina, Jasmine Ouyang, Sang Woo Park, Joseph H Eto, and Vijay Satyal. "Adaptive Transmission Planning: Implementing a New Paradigm for Managing Economic Risks in Grid Expansion." IEEE Power and Energy Magazine 2016.
Munoz, Francisco D, Benjamin F Hobbs, and J.-P. Watson. "New bounding and decomposition approaches for MILP investment problems: Multi-area transmission and generation planning under policy constraints." European Journal of Operational Research 248.3 (2016) 888 - 898.
Ho, Jonathan L, Benjamin F Hobbs, Pearl E Donohoo-Vallett, Qingyu Xu, Saamrat Kasina, Sang Woo Park, and Yueying Ouyang. Planning Transmission for Uncertainty: Applications and Lessons for the Western Interconnection. 2016.

Related Files

   PDF (5.19 MB)
Perez, Andres P, Enzo E Sauma, Francisco D Munoz, and Benjamin F Hobbs. "The Economic Effects of Interregional Trading of Renewable Energy Certificates in the U.S. WECC." The Energy Journal 37.4 (2016).
Hobbs, Benjamin F, Saamrat Kasina, Qingyu Xu, Sang Woo Park, Jasmine Ouyang, Jonathan L Ho, and Pearl E Donohoo-Vallett. "What is the Benefit of Including Uncertainty in Transmission Planning? A WECC Case Study." 2016 49th Hawaii International Conference on System Sciences (HICSS). Koloa, HI, USA: IEEE, 2016. 2364 - 2371.
Shayesteh, Ebrahim, Benjamin F Hobbs, Lennart Soder, and Mikael Amelin. "ATC-Based System Reduction for Planning Power Systems With Correlated Wind and Loads." IEEE Transactions on Power Systems 30.1 (2015) 429 - 438.
Krishnan, Venkat, Jonathan L Ho, Benjamin F Hobbs, Andrew L Liu, James D McCalley, Mohammad Shahidehpour, and Qipeng P Zheng. "Co-optimization of electricity transmission and generation resources for planning and policy analysis: review of concepts and modeling approaches." Energy Systems (2015).
Ozdemir, Ozge, Francisco D Munoz, Jonathan L Ho, and Benjamin F Hobbs. "Economic Analysis of Transmission Expansion Planning With Price-Responsive Demand and Quadratic Losses by Successive LP." IEEE Transactions on Power Systems (2015) 1 - 12.
Ahlstrom, Mark, Erik Ela, Jenny Riesz, Jonathan O'Sullivan, Benjamin F Hobbs, Mark O'Malley, Michael Milligan, Paul Sotkiewicz, and Jim Caldwell. "The Evolution of the Market: Designing a Market for High Levels of Variable Generation." IEEE Power and Energy Magazine 13.6 (2015) 60 - 66.
Munoz, Francisco D, Benjamin F Hobbs, Jonathan L Ho, and Saamrat Kasina. "An Engineering-Economic Approach to Transmission Planning Under Market and Regulatory Uncertainties: WECC Case Study." IEEE Transactions on Power Systems 29.1 (2014) 307 - 317.
Munoz, Francisco D, Benjamin F Hobbs, and J.P. Watson. New Bounding and Decomposition Approaches for Multi-Area Transmission and Generation Planning Under Policy Constraints. 2014.
De Jonghe, Cedric, Benjamin F Hobbs, and Ronnie Belmans. "Value of Price Responsive Load for Wind Integration in Unit Commitment." IEEE Transactions on Power Systems 29.2 (2014) 675 - 685.
Hobbs, Benjamin F. "What Investments Should be Made Now? Long Run Transmission Planning Under Uncertainty." 2014.

Related Files

   PDF (3.26 MB)
Munoz, Francisco D, Enzo E Sauma, and Benjamin F Hobbs. "Approximations in power transmission planning: implications for the cost and performance of renewable portfolio standards." Journal of Regulatory Economics 43.3 (2013) 305 - 338.
Eager, Dan, Benjamin F Hobbs, and Janusz W Bialek. "Dynamic Modeling of Thermal Generation Capacity Investment: Application to Markets With High Wind Penetration." IEEE Transactions on Power Systems 27.4 (2012) 2127 - 2137.
Munoz, Francisco D, Benjamin F Hobbs, and Saamrat Kasina. "Efficient proactive transmission planning to accommodate renewables." 2012 IEEE Power & Energy Society General Meeting. San Diego, CA: IEEE, 2012. 1 - 7.
De Jonghe, Cedric, Benjamin F Hobbs, and Ronnie Belmans. "Optimal Generation Mix With Short-Term Demand Response and Wind Penetration." IEEE Transactions on Power Systems 27.2 (2012) 830 - 839.
Schuler, Richard E. "Planning, Markets and Investment in the Electric Supply Industry." 2012 45th Hawaii International Conference on System Sciences (HICSS). Maui, HI, USA: IEEE, 2012. 1923 - 1930.
Schuler, Richard E. "Pricing the use of capital-intensive infrastructure over time and efficient capacity expansion: illustrations for electric transmission investment." Journal of Regulatory Economics 41.1 (2012) 80 - 99.
Hobbs, Benjamin F. "Transmission planning and pricing for renewables: Lessons from elsewhere." 2012 IEEE Power & Energy Society General Meeting. San Diego, CA: IEEE, 2012. 1 - 5.
Schuler, R E. "Efficient Pricing and Capital Recovery for Infrastructure over Time: Incentives and Applications for Electric Transmission Expansion." 2011 44th Hawaii International Conference on System Sciences (HICSS 2011). Kauai, HI: IEEE, 2011. 1 - 9.
van der Weijde, A.H., and Benjamin F Hobbs. Planning electricity transmission to accommodate renewables: Using two-stage programming to evaluate flexibility and the cost of disregarding uncertainty. 2011.