We present a general methodology for power system portfolio selection under uncertainty in which fossil fuels and CO2 market prices as assumed as the main sources of risk. The planning problem is developed by considering the power system as a whole in its interactions between dispatchable sources and intermittent renewables, under load demand and power capacity constraints. The portfolio selection is performed taking into account costs and benefits of the power system from a societal perspective. Efficient frontiers and optimal generation portfolios are derived and discussed. Based on USA data, an empirical analysis is developed to illustrate the main features of this approach.
Power system portfolio selection under uncertainty
Carlo Mari
2017-01-01
Abstract
We present a general methodology for power system portfolio selection under uncertainty in which fossil fuels and CO2 market prices as assumed as the main sources of risk. The planning problem is developed by considering the power system as a whole in its interactions between dispatchable sources and intermittent renewables, under load demand and power capacity constraints. The portfolio selection is performed taking into account costs and benefits of the power system from a societal perspective. Efficient frontiers and optimal generation portfolios are derived and discussed. Based on USA data, an empirical analysis is developed to illustrate the main features of this approach.| File | Dimensione | Formato | |
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Mari2019_Article_PowerSystemPortfolioSelectionU.pdf
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