U.S.-Korea Cooperative Research on New Technique for Optimization of Long-Term Power System Expansion Planning

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This proposal requests funds to permit Dr. Kwang Yun Lee, Electrical Engineering Department, Pennsylvania State University, to pursue with Dr. Young Moon Park, Professor of Electrical Engineering, Seoul National University, Seoul, Korea, for a period of 24 months a program of research on a new technique for optimization of long-term power system expansion planning. These collaborators will attempt to determine the most economical and reliable generation and expansion plan in an electric power system over a long-range planning horizon (usually 5 to 30 years) subject to a number of technical, economical, and social constraints. They will apply Pontriagin's maximum principle and use novel assumptions regarding random load and characteristics of generating plants of several types and other assumptions regarding the transmission network in order to simplify the problem and make it possible to develop a closed-form analytical production model and reliability indices rather than simulation models, with a considerable reduction in computation time, without sacrificing reliability. The topics of optimal electric power generation and transmission are most important both to countries such as Korea, where the utilities are expected to expand rapidly, and to the United States. Predictions about the need for new power plants in the United States often have been excessive and plants under construction have been cancelled with an enormous capital loss. This project seeks to develop a new method for power system planning which would be beneficial to the United States and Korea. This project is relevant to the objectives of the U.S.-Korea Cooperative Science Program which seeks to increase the level of cooperation between U.S. and Korean scientists and engineers through the exchange of scientific information, ideas, skills, and techniques and through collaboration on problems of mutual benefit. The U.S. and Korean collaborators are highly respected scientists who not only have extensive research experience and productive publication records in the field of the proposal but also have produced several joint publications from past collaboration.