Title :
Power System Long-Term Planning in the Presence of Uncertainty
Author :
Henault, Patrice H. ; Eastvedt, Robert B. ; Peschon, John ; Hajdu, Laszlo P.
Author_Institution :
Wolf Management Services
Abstract :
The determination of the least costly long-term expansion of a power system in the presence of uncertainty about future loads is formulated as a mathematical optimization problem. It is recognized that more information about these future loads will be acquired with time. The objective is to find an expansion policy such that the investment decision is based on an up-to-date estimate of the system requirements.
Keywords :
Costs; Dynamic programming; Investments; Mathematical model; Power engineering computing; Power system management; Power system planning; Stochastic processes; Transformers; Uncertainty;
Journal_Title :
Power Apparatus and Systems, IEEE Transactions on
DOI :
10.1109/TPAS.1970.292684
