Optimal Expansion of a Developing Power System under the Conditions of Market Economy and Environmental Constraints

Misak Avetisyan, David Bayless, Tigran Gnuni

Research output: Contribution to journalArticle

Abstract

This paper presents a mathematical model for the optimal expansion of a developing power system. The relations between technical and economic criteria of the power system are non-linear, which makes the problem more complicated. In this model all non-linear relations are made linear. The considered model includes provisions for energy security, which is significant especially for countries that do not possess adequate energy resources. Furthermore, environmental constraints are placed on the model to formulate optimal expansion strategy for the developing power system. Based on the economic analysis of the model some conclusions and recommendations are made.
Original languageEnglish
Pages (from-to)455-466
JournalEnergy Economics
StatePublished - Jan 18 2006

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