Journal
IEEE TRANSACTIONS ON POWER SYSTEMS
Volume 33, Issue 3, Pages 3064-3075Publisher
IEEE-INST ELECTRICAL ELECTRONICS ENGINEERS INC
DOI: 10.1109/TPWRS.2017.2759198
Keywords
Power system planning; natural gas; stochastic optimization
Categories
Funding
- National Science Foundation [1548015]
- Div Of Electrical, Commun & Cyber Sys
- Directorate For Engineering [1548015] Funding Source: National Science Foundation
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The interdependence between natural gas and electric power systems is becoming increasingly tight, as the share of natural gas-fired units increases. Within this context, this paper addresses the coordinated expansion planning of natural gas and power systems. We analyze the tradeoff of building natural gas-related facilities (e.g., natural gas pipelines and natural gas-fired generation units) versus electric-power-related facilities (e.g., transmission lines and other generation units). We use a two-stage stochastic optimization model that provides an appropriate balance between accuracy and computational tractability and represents uncertainty pertaining to electricity and natural gas demands. We show the importance of representing uncertainty by computing the value of stochastic solution, which is significant. We analyze the functioning of the model through a small example and a case study based on the IEEE 118-bus system. Computational results confirm the need for detailed representation of both the natural gas and power systems to achieve investment decisions that are well coordinated and optimal.
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