Dynamic generation and transmission expansion planning in the power market-based on a multiobjective framework

Abstract

Summary Expansion planning is one of the most important issues in the power system studies because of its significant effect on the operation and maintenance in the future. This paper presents a new model for dynamic expansion planning in the power market in which simultaneous expansion of generation and transmission is addressed based on a multiobjective framework. The costs of investment, congestion, and loss of load are considered in the problem formulation as three objectives. The impacts of transmission line losses and different investment scenarios on the planning objectives are also investigated. For us to overcome the difficulties of solving this nonconvex and mixed integer optimization problem, nondominated sorting genetic algorithm-II followed by the fuzzy satisfying method is used to obtain the final optimal solution. The methodology yields a set of solutions so that final plan can be selected according to different planning policies. The proposed method has been applied to the IEEE 24-bus, Iranian northeastern 400-kV power grid and Iranian 400-kV simplified network to justify the performance of the proposed method. Different cases are analyzed, and the obtained results approve the applicability of the proposed approach in real power systems.