Applications of probabilistic peak-shaving technique in generation planning

This paper presents two novel applications of probabilistic peak-shaving technique in generation planning, i.e., to simulate efficiently and accurately multiple limited-energy units probabilistically in the equivalent load duration curve method and to simulate efficiently the candidate plants; whose different configurations are tested for finding the least-cost generation expansion planning solution. The applications of the technique are demonstrated with the help of two hand calculation examples. An efficient algorithm is also presented to simulate multiple limited-energy units probabilistically, for different hydrological conditions, in a generation mix of hydro-thermal units in probabilistic production costing framework