PowNet 2.0: A production cost modeling framework for large-scale power systems
Phumthep Bunnak, Hisham Eldardiry, Matija Pavičević, Jerry Zhuoer Feng, Stefano Galelli · The Journal of Open Source Software · 2025
Managing the complex network of power stations and transmission lines that deliver electricity across large spatial domains (e.g., country and continental scale) requires a variety of mathematical models.Among them, Production Cost Models (PCM) are commonly used for planning the short-term operation of power grids (Garver, 1962).Specifically, PCMs schedule the production of electricity by generators considering transmission constraints with planning horizons that range from a few hours to a few days.PowNet 2.0 is a Python-based PCM framework that simulates and analyzes the most costeffective way of meeting electricity demand using various electricity sources (e.g., coal, natural gas, and renewables) such that sufficient electricity is generated at each hour while considering factors like fuel prices, availability of renewables, and regulatory requirements.The framework also allows us to study the integration between hydropower and power systems.