With increasing amounts of power generation from intermittent sources like wind, transmission planning has not only to account for the expected load curve but also for the stochasticity of volatile power infeeds. Moreover investments in power generation are no longer centrally planned in...

Power systems with high shares of wind and solar power have to balance their intermittent nature. Pumped-hydro storage plants can provide the required flexibility, while thermal backup plants offer an alternative. This paper proposes a capacity planning model to describe the efficient technology...

Integrating large quantities of variable renewable electricity generation remains a political and operational challenge. One of the main obstacles in Europe to installing at least 200 GWs of power from variable renewable sources is how to deal with the insufficient network capacity and the...

Korea will introduce an emission trading policy from 2015. The rules for the initial allocation of emission allowances have not been decided yet. This paper assesses the effect of various initial emission allowance allocation methods of the Korean electricity market. This study employs the mixed...

Deterministic capacity planning problems in electricity systems can be solved by comparing technology specific long-term and short-term marginal costs. In an uncertain market environment, Mean-Variance Portfolio (MVP) theory provides a consistent framework to balance risk and return in power...