Long Term Dynamics of Investment in Electric Power System Planning

Monday, February 23, 2009
6:00 PM
Free and open to the public

This talk describes an interdisciplinary approach to computer modeling of large-scale power systems over a long-term horizon. The goal is to simulate the interplay between the economic, technical and environmental factors in the system to help guide regulatory policies. In particular, we are interested in alleviating boom and bust cycles, inadequate investment in infrastructure and other systemic problems. The challenge of simulating short-term behavior such as hourly wholesale electricity prices within the longer-term model is presented. Our approach uses a combination of system dynamics approaches and more detailed power system models. Numerical examples from the Western Electric Coordination Council (WECC) illustrate the approach.

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Kevin Tomsovic

University of Tennessee