Generation and Transmission Expansion Planning with Full-year Hourly Power Balance

Variable renewable energies are leading the energy transition and power system flexibility has become a global priority. Incorporating short-term assessment into long-term planning is essential to capture the operational characteristics of generation and address flexibility issues. This paper presents a novel model for generation and transmission expansion planning with economic dispatch. In the generation expansion planning, the capacity expansion is optimized. In the economic dispatch problem, power plant operation, hydropower generation, and line transmission power flow are optimized. The model is a mixed-integer linear programming problem solved in MATLAB using Gurobi toolbox. A model is proposed to optimize the reservoir of hydropower systems and run-of-river. A case study for supplying Brazilian demand in 2050 is presented. A scenario with greenhouse gas emission costs and no deficit is proposed. This study has shown that the current penalty cost for loss of load is not sufficient to avoid a deficit. It is possible to supply 2050 demand, without large reservoirs or deficits, with a 5.5% curtailment, using 13% of total storage capacity, however; peaking power plants are required.