Model Overview¶
Least-cost MIP capacity expansion and economic dispatch model, implemented in GAMS.
Specifications¶
| Formulation | Mixed-integer program (MIP) or relaxed (RMIP) |
| Objective | Minimize NPV of total system cost (capex + opex) |
| Horizon | Multi-year, user-defined |
| Time resolution | Representative days · Full hourly chronology (Dispatch Mode) |
| Spatial | Multi-zone · Multi-country · Transmission network with losses and expansion |
| Decision variables | Capacity builds · Retirements · Dispatch · Transmission investment |
| Scenarios | Multi-scenario runs · Monte Carlo over uncertain parameters |
Technologies¶
Thermal (gas, coal, oil, nuclear) · Solar PV · Wind · Hydropower · Battery storage · Pumped hydro · CSP with thermal storage · Hydrogen electrolyzers · CCS retrofits
Features¶
| Feature | Notes |
|---|---|
| Unit commitment | On/off binaries, startup costs, min up/down time (Dispatch Mode only) |
| Storage | SOC dynamics, charge/discharge efficiency, PV-coupled batteries |
| Reserves | Spinning reserve + planning reserve margin, country and system level |
| Emissions | CO₂ accounting per zone; country and system caps with backstop slack |
| Policy constraints | RE targets · Carbon tax · Fuel limits · Capital budget |
Assumptions¶
Social planner model: perfect competition, inelastic demand, economically efficient trade across zones. Suitable for long-term planning, not for market dynamics or strategic bidding.
Outputs¶
Capacity expansion plan · Generation dispatch · System NPV and cost breakdown · Transmission flows and utilization · Marginal prices (dual variables) · CO₂ emissions · Trade volumes