Title :
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
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;
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
DOI :
10.1109/NAPS.2006.360131
