Market based transmission planning under uncertainties

In this paper the objectives of transmission expansion planning in deregulated power systems are stated. Sources of random uncertainties, nonrandom uncertainties and vagueness in deregulated environments are addressed. A market based transmission expansion planning approach is presented. This approach uses a combination of probabilistic locational marginal price, scenario technique and fuzzy decision making for taking into account all random uncertainties, nonrandom uncertainties and vagueness. The approach considers the desires of all stakeholders in transmission expansion planning. The plan which has minimax fuzzy regret is selected as the final plan. Finally, the approach is applied to an eight bus test system.