Optimal Grid Layouts for Hybrid Offshore Assets in the North Sea under Different Market Designs

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説明

This work examines the generation and transmission expansion planning problem of offshore grids under different market clearing mechanisms: a home market design, a zonally cleared offshore bidding zone and a nodally cleared offshore bidding zone. It aims at answering two questions. Is knowing the market structure a priori necessary for effective generation and transmission expansion planning? And which market mechanism results in the highest overall social welfare? To this end, a multi-period, stochastic generation and transmission expansion planning formulation is developed for both nodal and zonal market designs. The approach considers the costs and benefits among stake-holders of hybrid offshore assets as well as gross consumer surplus. The methodology is demonstrated on a North Sea test grid based on projects from the European network of transmission system operators’ ten-year network development plan. An upper bound on potential social welfare in zonal market designs is calculated and it is concluded that from a generation and transmission perspective, knowing the market structure a priori is not strictly necessary but planning under the assumption of a nodal offshore bidding zone is recommended as it results in the highest overall social welfare and best risk adjusted return.

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