The impact of a deterministic reliability index on deregulated multi-objective generation expansion planning

A deregulated multi-objective generation expansion planning (DMGEP) has been modeled in the previous research. The research used loss of load probability (LOLP) as a reliability objective function. LOLP is a probabilistic reliability index that has a disadvantage on computation time. On the other hand, there is a deterministic reliability index that has an advantage on computation time. The deterministic reliability index is reserve margin (RM). This study will conduct a DMGEP by using two reliability index scenarios. The scenarios are LOLP scenario and RM scenario. This research aims to analyze the impact of using RM on DMGEP. To do the impact analysis, it is needed a comparison between LOLP scenario results and RM scenario results. Based on the results of both scenarios, it can be known the impacts of RM scenario. Using RM can accelerate computation time by 70.7% and cause additional total installed capacity of power plants. The total installed capacity in the RM scenario is higher of 3.2% than the LOLP scenario.