Power plants feasibility studies supported by stochastic programming software

Abstract

The paper is dedicated to the power plants feasibility study, which can be considered as a first step of a long way design, construction and commissioning of power plant. This task is hundred years old, but with the market tools implementation on power systems operation and planning the feasibility study conditions change substantially. The criteria for maximizing the profit of stakeholders of power plant should be reformulated. The criteria may contain the uncertain and random variables. The task assumes stochastic programming form. The needs for additional large amount of information appear. As a result, the task becomes much more complicated which necessitates the creation of new algorithms and software tools for its solution. The paper is devoted to a description and justification of the developed software product and its application to real plant feasibility study.