Investment in Electricity Generation and Transmission ― Decision Making Under Uncertainty

This book presents a detailed description of tools for making informed decisions regarding investment in both transmission and generation facilities in the face of an aging electricity industry infrastructure. There is a particular focus on investment in renewable production facilities, including wind- and solar-based power plants. The analysis involves decision-making tools for expansion planning, reinforcement, selection, and timing of investment options. Written in a tutorial and modular style, it includes a large number of illustrative examples to facilitate comprehension and offers an ideal blend of theoretical background and practical applications. It also provides readers with a comprehensive understanding of current investment problems in electric energy systems, including (i) the formulation of decision-making models for both generation and transmission expansion planning, (ii) the familiarization with efficient solution algorithms for such decision-making models, and (iii) insights into these investment problems through the detailed analysis of numerous illustrative examples. Offering an invaluable resource for advanced undergraduate and graduate students in the fields of electrical energy systems, operations research, management science, and economics, the concepts and techniques explored also benefit practitioners in the electricity industry.

Antonio J. Conejo, professor at The Ohio State University, OH, US, received the M.S. from MIT and the Ph.D. from the Royal Institute of Technology, Sweden. He has published over 150 papers in SCI journals and is the author or coauthor of books published by Springer, John Wiley, McGraw-Hill and CRC. He has been the principal investigator of many research projects financed by public agencies and the power industry and has supervised 18 PhD theses. He is the Editor-in-Chief of the IEEE Transactions on Power Systems, an IEEE Fellow and the Chair of the IEEE PES Power System Operations Committee.

Luis Baringo, postdoctoral researcher at the Power Systems Laboratory, ETH Zurich, Switzerland, received the Industrial Engineering degree and the Ph.D. in Electrical Engineering from the University of Castilla-La Mancha, Ciudad Real, Spain, in 2009 and 2013, respectively.

S. Jalal Kazempour, postdoctoral researcher at the Whiting School of Engineering, Johns Hopkins University, Baltimore, MD, US, received the B.S. from University of Tabriz, Tabriz, Iran, in 2006, the M.S. from Tarbiat Modares University, Tehran, Iran, in 2009, and the Ph.D. from the University of Castilla-La Mancha, Ciudad Real, Spain, in 2013, all in Electrical Engineering.

Afzal S. Siddiqui, Senior Lecturer in the Department of Statistical Science at University College London, received the B.S. from Columbia University and the M.S. and Ph.D. from the University of California at Berkeley (all in industrial engineering and operations research). His research interests are in decision making under uncertainty in the energy sector. Besides having participated in several externally funded projects, he has coordinated an EU project on risk management and energy efficiency in public buildings. He also holds visiting positions at Stockholm University and Aalto University.