Transmission Expansion Planning Considering Economic and Reliability Criteria

Abstract

This paper presents a transmission expansion planning model which combines the advantages of both the traditional reliability-based transmission planning model and economic (also known as value-based, economics-based, or market-based) transmission planning model. Reliability-based transmission planning tries to install new lines at minimal cost while fulfilling system reliability criteria. Economic transmission planning, on the other hand, seeks investment opportunities so that network expansions can generate more economic benefits than the costs. Benders decomposition technique is employed to separate the planning problem into one master problem, which makes investment decisions, and two sets of sub-problems, which evaluate the reliability and economic performance of the electric system, respectively. The proposed model is illustrated on a 5-bus system.

Meeting Name

2012 IEEE Power and Energy Society General Meeting, PES 2012 (2012: Jul. 22-26, San Diego, CA)

Department(s)

Electrical and Computer Engineering

Keywords and Phrases

Benders Decomposition; Economic Benefits; Economic Performance; Economic Transmission Planning; Electric Systems; Investment Decisions; Market; Minimal Cost; Network Expansion; Planning Problem; Reliability Criterion; Sub-Problems; System Reliability; Transmission Expansion Planning; Transmission Planning; Value-Based; Commerce; Economics; Expansion; Investments; Planning; Reliability; Electric Power Transmission

International Standard Book Number (ISBN)

978-1467327275

International Standard Serial Number (ISSN)

1944-9925

Document Type

Article - Conference proceedings

Document Version

Citation

File Type

text

Language(s)

English

Rights

© 2012 Institute of Electrical and Electronics Engineers (IEEE), All rights reserved.

Publication Date

01 Jul 2012

Link to Full Text

Share

 
COinS