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Prevailing approaches for reducing end effects in finite-horizon generation expansion planning (i.e. truncated, static post-horizon, salvage value, dual equilibrium, and rolling schedule) are compared, and the computationally efficient flexible rolling schedule introduced. The flexible rolling schedule is a general system-specific heuristic approximation for infinite-horizon optimal solutions. The significance of the baseload construction rate for infinite-horizon optimality is identified.>
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Hadjicostas et al. (1992) studied this question.
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