Planning new electric generating capacity: The short-term problem

The paper discusses a methodology to assist in the selection of the next generation additions to a power system, focusing on cost and reliability issues. Given global model solutions, several investment candidates are generated and then analysed for their cost and reliability performance to find the exact characteristics of the new generation modules. A unified approach to carry out the evaluation process and the sensitivity analyses, based on refined probabilistic models, is also discussed. The methodology described is not intended to represent the planning process of any particular electric utility.