Summary:
We apply the JuDGE optimization package to a multistage stochastic leader–follower model that determines a transmission capacity expansion plan to maximize expected social welfare of consumers and producers who act as Cournot oligopolists in each time period. The problem is formulated as a large-scale mixed integer programme and applied to a 5-bus instance over scenario trees of varying size. The computational effort required by JuDGE is compared with solving the deterministic equivalent mixed integer programme using a state-of-the-art integer programming package.
Keywords: stochastic optimization, JuDGE, transmission expansion planning, bilevel programming
JCR Impact Factor and WoS quartile: 4,019 - Q2 (2021); 5,000 - Q2 (2022)
DOI reference:
https://doi.org/10.1098/rsta.2019.0436
Published on paper: July 2021.
Published on-line: June 2021.
Citation:
S. Wogrin, D.A. Tejada, A. Downward, A.B. Philpott Welfare-maximizing transmission capacity expansion under uncertainty. Philosophical Transactions of the Royal Society A: Mathematical, Physical and Engineering Sciences. Vol. 379, nº. 2202, pp. 20190436-1 - 20190436-22, July 2021. [Online: June 2021]
