Open AccessProbabilistic multi‐objective transmission investment and expansion planning
Author(s) -
Arabali Amirsaman,
Hosseini Seyed Hamid,
MoeiniAghtaie Moein
Publication year - 2015
Publication title -
international transactions on electrical energy systems
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.428
H-Index - 42
ISSN - 2050-7038
DOI - 10.1002/etep.1940
Subject(s) - probabilistic logic , transmission (telecommunications) , investment (military) , computer science , artificial intelligence , telecommunications , politics , political science , law
Summary In market‐based planning studies, the financial aspects of transmission grids have been posed as a major challenge since these are important keys to provide a non‐discriminative and competitive environment for energy market participants. In this respect, this paper proposes a probabilistic multi‐objective transmission expansion planning algorithm considering private investors' preferences, technical concerns, and random nature of power system uncertainties. The combination of Non‐Dominated Sorting Genetic Algorithm II, as a widely‐used robust multi‐objective optimization technique, and point estimation method is employed to handle non‐commensurable probabilistic objective functions. The IEEE Reliability Test System is taken into consideration as the test system to verify and address the different aspects of the proposed method. Copyright © 2014 John Wiley & Sons, Ltd.