Abstract
The discussed model of electricity generation planning uses basic concepts of power production in a direct way. The electric load is modelled hour by means of a polynomial in time. Shifting load patterns are incorporated. Output, costs and reliability of a power system are estimated accurately. The least-cost investment decision is based on marginal cost analysis. Because of the direct structure, and because of limited requirements in computer capacity and time, the model is used interactively. Therefore, it may be a valuable tool in hands of top-management and regulatory agencies.
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