Value-based transmission expansion planning in deregulated market

Author

Lee, C.W. ; Ng, Simon K K ; Zhong, J.

Author_Institution

Dept. of Electr. & Electron. Eng., Univ. of Hong Kong, Hong Kong

fYear

2006

fDate

17-19 Sept. 2006

Firstpage

107

Lastpage

114

Abstract

Transmission expansion planning (TEP) has faced a significant change since the deregulation of power systems. It becomes even more complicated due to the conflicting objectives and uncertainties which have been exposed by the power industry restructuring. In this paper, a value-based transmission expansion planning algorithm is proposed. The algorithm makes use of the probability density functions (PDFs) of locational marginal prices (LMPs) to deal with the changes in power flow patterns due to the changes in offering prices set by generation companies.

Keywords

Monte Carlo methods; electricity supply industry deregulation; power transmission planning; Monte Carlo simulation; locational marginal prices; power flow patterns; power industry restructuring; power system deregulation; probability density functions; transmission expansion planning; Costs; Energy management; Environmental management; Investments; Load flow; Monopoly; Power generation; Power industry; Power system planning; Uncertainty; Monte Carlo simulation; deregulation; transmission expansion planning; value-based;

fLanguage

English

Publisher

ieee

Conference_Titel

Power Symposium, 2006. NAPS 2006. 38th North American

Conference_Location

Carbondale, IL

Print_ISBN

1-4244-0227-1

Electronic_ISBN

1-4244-0228-X

Type

conf

DOI

10.1109/NAPS.2006.360131

Filename

4201302