Risk-based approach for Transmission Expansion Planning in Deregulated Environment

The objectives of the transmission expansion planning have changed owing to restructuring of power sector. Transmission systems in the deregulated environment have to provide non-discriminatory access to allow competition, robust transmission network against uncertainties etc. Uncertainties are handled by both deterministic and non-deterministic approaches. Non-deterministic methods consider many cases with assigning a probability of occurrence or a degree of importance to each of them and hence are able to model the past experience, future expectations and uncertainties. This paper proposes a risk-based approach for transmission expansion planning considering uncertainties in load forecasting and generator siting. The method proposed here evolves a robust plan from among the alternative plans. The methodology proposed is demonstrated with a sample network