Methodical principles of making decisions on electric power system expansion in market environment

The process of making decisions on expansion of electric power systems (EPSs) involves many concerned parties and players. Based on the differences in their interests we distinguish two trends of works on making decisions on expansion of electric power systems: (1) strategies and programs of EPS expansion and plans of power utilities, (2) investment projects and other works. The procedure of making decisions on EPS expansion consists of the following stages: decision regulation, decision formation, assessment of decisions and coordination of decisions. The paper characterizes these stages, presents the essence of the problems to be solved and requirements to the methods of decision making and mathematical models