Abstract
The project selection problem in an electric distribution utility, which is part of the network expansion planning task, requires a formal process of prioritizing some projects since the budget is limited. A complete solution to this problem, involving optimization and a decision-making model, is still a few explored in the literature. We proposed an integrated multicriteria decision-making methodology, including optimization and solutions ranking. The optimization module finds a set of Pareto-optimal portfolios, using the multi-objective genetic algorithm nondominated sorting genetic algorithm-II to select and schedule the reinforcement projects in a multistage planning horizon. The proposed decision support module ranks the project portfolios based on Technique for Order Preference by Similarity to an Ideal Solution (TOPSIS) and Simple Multi-Attribute Rating Technique (SMART), considering the decision-maker profile embedded into the model by the Rank-Order Centroid (ROC) and Analytic Hierarchy Process (AHP) criteria weights. This paper tackles this methodology's theoretical foundations, taking into account some essential attributes, such as power quality and operational performance indexes, the number of consumers, and projects' financial impacts. We presented realistic case studies to show how portfolios are composed, not only when all nine attributes of projects are included in the optimization module, but also when the criteria weights are changed in the decision support module. This paper's main contribution lies in proposing a unique model to find optimal expansion plans and rank these project portfolios, considering the decision-maker profile adherent to its goals. About the decision-making methods applied in this problem, we infer that the TOPSIS performance overcomes SMART in all analyzed problems and the ROC and AHP weights indicate the same alternative in most of the analyzed cases.
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