Financial Transmission Rights and Auction Revenue Rights

Abstract: This paper surveys on two important issues in restructured power systems. One of them is Financial Transmission (FTR). Financial transmission right is a financial instrument which can improve the liquidity of operation in power system from point of view of all decision makers in competitive power systems. Another approach is Auction Revenue Rights (ARR) which ARR allocation consistent with congestion as determined by the FTR Auction. Analysis of these two mechanism and their impacts on long-term operation of power system are considered in this paper. Suppliers and large consumer, therefore, desire to contract in FTR to hedge their long-term risks. The FTR mechanism is based on the after settling market and determination Locational Marginal Price (LMP). In this area, delivery of energy (quantity and price) from the amount of FTRs which supplier is bidding for distinct path, and the price that the supplier is willing to pay for each FTR, are determined. This paper surveys on the longterm conditions of the FTR and mature one

Infrastructure Resource Planning in Modern Power System

Abstract: Generation Expansion Planning (GEP) is one of the most important issues in long-term power system planning. In from past, investigators noticed to GEP and supply of energy. In power system planning, generation expansion planning is performed for 5-yrears planning horizon or more. There are two main objective functions in GEP. First is the minimization of investment cost and another one is the maximization of reliability. GEP use future likeable engineering economics function, in order to drive certain indicator. Supply of fuel problem is one of the most important of effective factors for result. For this reason, Some times GEP and fuel supply center go hand-inhand. In this case, construction and operation cost of transmission network add to power system costs. This paper presents the simultaneous generation expansion planning with Natura