Security-constrained transmission expansion planning: A stochastic multi-objective approach

This article presents a stochastic multi-objective optimization framework for transmission expansion planning (TEP) with steady state voltage security management, using AC optimal power flow (AC-OPF). The objectives are to minimize the sum of transmission investment costs (ICs), minimize the Expected Operation Cost (EOC), minimize the Expected Load Shedding Cost (ELSC) and maximize the Expected Loading Factor (ELF). The system load uncertainty has been considered and the corresponding scenarios are generated employing the Monte Carlo (MC) simulations. A scenario reduction technique is applied to reduce the number of scenarios. A multi-objective mathematical programming (MMP) is formulated and the epsilon-constraint method is used to solve the formulated problem. The N - 1 contingency analysis is also considered for the proposed TEP problem. The proposed TEP model has been applied to the well-known IEEE 24-bus Reliability Test System. The detailed results of the case study are presented and thoroughly analyzed. The obtained TEP results show the efficiency of the proposed algorithm. (C) 2012 Elsevier Ltd. All rights reserved.