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Probabilistic multi-objective transmission investment and expansion planning
Arabali, A ; Sharif University of Technology | 2015
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- Type of Document: Article
- DOI: 10.1002/etep.1940
- Publisher: John Wiley and Sons Ltd , 2015
- Abstract:
- In market-based planning studies, the financial aspects of transmission grids have been posed as a major challenge since these are important keys to provide a non-discriminative and competitive environment for energy market participants. In this respect, this paper proposes a probabilistic multi-objective transmission expansion planning algorithm considering private investors' preferences, technical concerns, and random nature of power system uncertainties. The combination of Non-Dominated Sorting Genetic Algorithm II, as a widely-used robust multi-objective optimization technique, and point estimation method is employed to handle non-commensurable probabilistic objective functions. The IEEE Reliability Test System is taken into consideration as the test system to verify and address the different aspects of the proposed method
- Keywords:
- Point estimation method (PEM) ; Algorithms ; Commerce ; Decision making ; Earnings ; Electric power transmission ; Genetic algorithms ; Multiobjective optimization ; Privatization ; Risk perception ; Fuzzy Decision making ; Investment risks ; Non dominated sorting genetic algorithm (NSGA II) ; Rate of return ; Transmission expansion planning ; Investments
- Source: International Transactions on Electrical Energy Systems ; Volume 25, Issue 9 , September , 2015 , Pages 1884-1904 ; 20507038 (ISSN)
- URL: http://onlinelibrary.wiley.com/doi/10.1002/etep.1940/abstract;jsessionid=C899D7CD8A6E09059A6E91DD55C9735B.f03t01