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

This article presents a multi-objective framework for transmission expansion planning (TEP) with steady state voltage security consideration using AC optimal power flow (AC-OPF) within a market environment. The objectives are to minimize the investment costs (IC), operation costs (OC), load shedding cost (LSC) and also to maximize the voltage stability margin (VSM). A multi-objective mathematical programming (MMP) is formulated and the ε-constraint method is used to solve the problem. The proposed model has been applied to the well-known IEEE 24-bus Reliability Test System. The detailed results from the case study have been presented and discussed. Results are efficient and show the capability and the effectiveness of the proposed algorithm.