OPTIMAL SCHEDULING OF POWER'. PROJECTS OVER A PLANNING HORIZON

Abstract

A solution approach via dynamic programming for sequencing of a finite set of capacity expansion projects for electricity generation, that minimizes total discounted operating and investment costs, is attempted. This study is aimed . at developing a simple realistic solution methodology, for analysing optimal scheduling problems. The complexity of selection and timing of generation plant additions in a hydrothermal system with basically different types of generating units such as hydroelectric, steam,. diesel and gas turbine units are brought out. Various dynamic programming computation approaches suggested for solving the problem are critically reviewed. A bounded operation cost, quantized state methodology to reduce the complexity and computational time has been evolved and illustrated through a computational case study.