TY - JOUR TI - Welfare-maximizing transmission capacity expansion under uncertainty JO - Philosophical Transactions of the Royal Society A: Mathematical, Physical and Engineering Sciences A1 - Downward, A., Philpott, A.B., Tejada, D.A., Wogrin, S. VL - 379 IS - 2202 PY - 2021-07-26 PS - 20190436-1 EP - 20190436-22 DO - 10.1098/rsta.2019.0436 AB -

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.

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