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Simulation of regional power markets in the planning of trans — Border interconnections

The paper presents the methodology adopted for simulating a regional power market within the frame of a feasibility study of a 1200 km long 2000MW trans-border interconnection. The Generation-Transmission Maximization (GTMax) software, which serves as a focal point of the study, was supported by other tools and models for optimizing water resources and long-term generation planning. The simulations have been performed on a yearly basis for the 2012-2027 time period in order to assess the interconnection capacity, the optimal staged development, and ultimately the economic viability of the project. GTMAx simulations also supported the application of the N-1 criterion for selecting the modular rating and overload capability of the HVDC converters. This was achieved by computing the yearly duration of energy interchanges within a particular power range and through the valuation of the energy exchange opportunity loss due to capacity constrains of the interconnector.