Study Of Optimized Generation Investment Decision-Making Model In Power Market

The world-wide power industry restructuring has introduced more uncertainfactors for generation investment decision-making, and hence more flexibilityconcerning the investment strategy required. To solve the problems ofthoughtlessness to multi-uncertainty in current electricity market which must beconfronting electricity generation investors, firstly ,a newly electricity generationappraisal model improved from Barraquand-Martineau model is presented in thisthesis, which includes three uncertainties: the electric price, the generation unitutilizing rate and the fuel price. Secondly, a generation investment optimizeddecision-making model, which regards new unit's profit maximum as the targetfunction, is built in the paper. Finally, the proposed model has been validatedthrough simulation result.