Transmission Expansion Planning in Deregulated Power ... - tuprints

5 Market Based Transmission Expansion Planning 54
Regret is a measure of risk. Regret of plan k in scenario l is defined as the difference between
the cost of plan k and the cost of optimal plan of scenario l. In definition of regret “cost”
means any criterion that can be used for measuring the goodness of expansion plans. Regret is
formulated as bellow:
with:
r
k,
l k , l op,
l
= f − f
(5.1)
k l
r , regret of plan k in scenario l
f
f
k l
, value of the selected market based criterion for plan k in scenario l
op l
, value of selected market based criterion for the optimal plan of scenario l
Minimax regret selects the plan which minimizes the maximum weighted regret over different
scenarios i.e.:
with:
Min
k
l k , l { Max(
r ) }
l
υ (5.2)
l
υ occurrence degree of scenario l
See the example of appendix A for more detail on minimax regret criterion.
5.2.5 Capacity of New Transmission Lines
After determining the final expansion plans, the capacity of the selected plans must be
determined. The capacities of selected transmission lines are determined using the PDFs of
power of selected transmission lines in different scenarios. The capacities are determined so
that the probability of violating the limits of selected lines is less than one percent in each
scenario during the peak load of planning horizon.
5.2.6 Transmission Expansion Planning Algorithm
The algorithm of presented transmission expansion planning approach is as bellow:
1. Identify the set of possible strategic scenarios and their occurrence degrees.
2. Suggest candidates for transmission expansion.
2.1. Compute PDFs of LMPs for the existing network in different scenarios.
2.2. Select a value for SV.