A low-carbon market-based multi-area power system expansion planning model

This paper proposes a low-carbon coordinated linear generation and transmission expansion planning (G&TEP) model for mull-area power systems (MAPS)s, wherein energy transactions are determined considering the power market environment. The proposed model presents an interesting decarbonization alternative for power systems with low renewable resources potential, by allowing them to meet their environmental targets through an increase in their energy transactions with neighboring power systems. In order to allow for more energy transactions with neighboring power systems, the proposed model aims at ensuring an advantageous collaboration from the perspective of all the areas participating in the MAPS. To this end, a preprocessing stage is carried out first to study the expansion planning of each area individually when no investments are to be made in inter-area transmission infrastructure. Subsequently, the MAPS expansion planning problem is solved bounded by the emissions levels and the profits realized by the market players in the preprocessing stage. Numerical simulations were carried out in GAMS environment and the results indicate the effectiveness of the proposed model in developing advantageous expansion plans for all the areas participating in the MAPS.