Title :
A new transmission expansion planning framework and cost allocation method considering financial transmission rights
Author :
Khazaei, Hossein ; Sabounchi, Moein
Author_Institution :
Dept. of Electr. Eng., Amirkabir Univ. of Technol. (AUT), Tehran, Iran
Abstract :
In this paper, we propose a transmission expansion planning (TEP) framework combined with a cost allocation method based on cooperative game theory. It is a two-step model in which the first step includes the procedure of transmission expansion plan and the latter is comprised of cost allocation process. TEP is derived based on two criteria: reliability and the economic benefits and we use the cost of expected energy not supplied (EENS) to measure the cost of reliability. Both the energy markets and transmission rights are considered in calculation of the economic benefits of the transmission expansion plan on the market participants. Then the cost of the new/upgraded transmission facilities is allocated based on the cooperative game theory. The use of cooperative game theory and the proposed payment allocation method helps to distribute the social welfare gains among the market participants justly. A 6-bus test system is used to illustrate the effectiveness of the proposed TEP framework.
Keywords :
costing; financial management; game theory; power markets; power transmission planning; power transmission reliability; EENS; TEP framework; cooperative game theory; cost allocation method; economic benefit; energy market; expected energy not supplied; financial transmission right; market participant; payment allocation method; reliability cost; social welfare gain; transmission expansion planning framework; transmission facility; Buildings; Game theory; Games; Planning; Reliability theory; Resource management; Shapley value; Transmission expansion planning (TEP); cooperative game theory; expected energy not supplied (EENS); reliability;
Conference_Titel :
Information and Automation for Sustainability (ICIAfS), 2014 7th International Conference on
DOI :
10.1109/ICIAFS.2014.7069629