Planning, Markets and Investment in the Electric Supply Industry

TitlePlanning, Markets and Investment in the Electric Supply Industry
Publication TypeConference Paper
Year of Publication2012
AuthorsRichard E Schuler
Conference Name2012 45th Hawaii International Conference on System Sciences (HICSS)
Date Published01/2012
Conference LocationMaui, HI, USA
ISBN Number978-1-4577-1925-7
KeywordsCERTS, electricity markets, power system economics, power system planning, reliability, reliability and markets, RM11-002

Effective planning of the complex electricity supply network is essential because of the long lead times required for the development and placing in service of large new generators and transmission lines. Yet much can change while this physical process is being undertaken in terms of costs, prices, technological innovation and public policies, particularly about the environment and fuel diversity. The essential nature of well-constructed markets in yielding accurate, up-dated information about the likely effects of these many factors, as well as the use of advanced planning tools like "real-options" analysis are described, together with how these tools should be carefully staged and integrated with the planning process.