A Multi-Criteria Approach for Power Generation Expansion Planning

Traditionally optimization of the Israeli power generation expansion planning was based on economic criteria only. However, the present situation requires the joint consideration of multiple criteria (economic, reliability, environmental, etc). In order to solve this multi-criteria optimization problem a new approach is proposed to select a predetermined number of “reasonable” alternatives from their vast initial set according to an arbitrary (but finite) number of optimization criteria and accounting for uncertainty factors. This approach uses an intuitive methodology developed to account for uncertainty. The methodology is based on performing multi-variant computations (MVC) and finding their “stable-optimal” solutions. The above mentioned is performed in a framework of a hierarchical multi-level system (HMLS) of MVC series, where each HMLS level includes a set of appropriate scenarios. These scenarios, at different HMLS levels, may reflect various versions of the used calculation methods and procedures (multi-criteria optimization techniques, modified to account for uncertainty; calculation algorithms and models to construct initial alternatives and their criteria assessment vectors, etc.) as well as varying conditions and parameter values, involved in the problem. Although the proposed approach was applied only to the Israeli power generation expansion planning, it may also be used in other similar problems.