Strategic Planning for Power System Reliability and Vulnerability: An Optimization Model for Resource Planning Under Uncertainty

This paper describes a mathematical optimization model for analyzing a complex problem in power systems planning-evaluation of the cost effectiveness of alternate resource plans that provide an adequate level of peak and strategic reliability. Strategic reliability refers to the vulnerability of the power system to uncertain events such as fuel supply disruptions and unanticipated load growth that leads to adverse mis-matches in supply and demand for power. The model has been used to analyze key issues related to strategic resource planning for reliability, contingency planning, and vulnerability assessment for a major Power Pool in the East.