A Multi-Objective Transmission Expansion Planning Framework in Deregulated Power Systems With Wind Generation

Integration of renewable energy resources into the power system has increased the financial and technical concerns for the market-based transmission expansion planning. This paper proposes a stochastic framework for transmission grid reinforcement studies in a power system with wind generation. A multi-stage multi-objective transmission network expansion planning (TNEP) methodology is developed which considers the investment cost, absorption of private investment and reliability of the system as the objective functions. A non-dominated sorting genetic algorithm (NSGA II) optimization approach is used in combination with a probabilistic optimal power flow (POPF) to determine the Pareto optimal solutions considering the power system uncertainties. Using a compromise-solution method, the best final plan is then realized based on the decision-maker preferences. The proposed methodology is applied to the IEEE 24-bus Reliability Tests System (RTS) to evaluate the feasibility and practicality of the developed planning strategy.