- Volume 5 Issue 2
Today, as power trades between generators and loads are liberalized, the uncertainty level of power systems is rapidly increasing. Therefore, transmission operators are required to incorporate these uncertainties when establishing an investment plan for effective operation of transmission facilities. This paper proposes the methodology for an optimal solution of transmission expansion plans for the long-term in a deregulated power system. The proposed model uses the probabilistic cost of transmission congestion for various scenarios and the annual increasing rates of loads. The locations and the installation times of expanded transmissions lines with minimum cost are acquired by the model. To minimize the investment risk, the Mean-Variance Markowitz portfolio theory is applied to the model. In a case study, the optimal solution of a transmission expansion plan is obtained considering the uncertain power market.
Optimal transmission expansion planning;Congestion cost;Markowitz;Monte Carlo simulation
- H. He and Z Xu, "Transmission congestion and its social effects," IEEE Power Engineering Society General Meeting, Vol. 1, pp. 350-354, June 2005.
- Xiao Hongfei, Li Weidong and Wei Liming, "Congestion assessment for transmission planning in competitive electricity markets," IEEE/PES Transmission and Distribution Conference & Exhibition: Asia and Pacific, Dalian, China, 2005.
- A. H. Escobar, R. A. Gallego and R. Romero, "Multistage and coordinated planning of the expansion of transmission systems," IEEE Transactions on Power Systems, Vol. 19, No. 2, pp. 735-744, May 2004. https://doi.org/10.1109/TPWRS.2004.825920
- Daniel S. Kirschen and Goran Strbac, Fundamentals of Power System Economics, John Wiley & Sons, 2004.
- R. Fang and D. J. Hill, "A new strategy for transmission expansion in competitive electricity markets," IEEE Transactions on Power Systems, Vol. 18, No. 4, pp. 374-380, Feb. 2003. https://doi.org/10.1109/TPWRS.2002.807083
- R. Rillinton and R. N. Allan, Reliability Evaluating of Engineering System, 2nd Edition, Plenum Press, New York, 1996.
- B. H. Kang, The theory of investment, Pakyoungsa, 2004.
- "IEEE reliability test system-1996," IEEE Transactions on Power Systems, Vol. 14, No. 3, pp. 1010-1020, Aug. 1999. https://doi.org/10.1109/59.780914
- Novel Protection Scheme With the Superconducting Power Cables and Fault Current Limiters Through RTDS Test in Icheon Substation vol.22, pp.3, 2012, https://doi.org/10.1109/TASC.2011.2180880
- Risk-based methods for sustainable energy system planning: A review vol.74, 2017, https://doi.org/10.1016/j.rser.2017.02.082