A multi-stage stochastic transmission expansion planning method

Highlights: → We model a multi-stage stochastic transmission expansion planning problem. → We include available transfer capability (ATC) in our model. → Involving this criterion will increase the ATC between source and sink points. → Power system reliability will be increased and more money can be saved. - Abstract: This paper presents a multi-stage stochastic model for short-term transmission expansion planning considering the available transfer capability (ATC). The ATC can have a huge impact on the power market outcomes and the power system reliability. The transmission expansion planning (TEP) studies deal with many uncertainties, such as system load uncertainties that are considered in this paper. The Monte Carlo simulation method has been applied for generating different scenarios. A scenario reduction technique is used for reducing the number of scenarios. The objective is to minimize the sum of investment costs (IC) and the expected operation costs (OC). The solution technique is based on the benders decomposition algorithm. The N-1 contingency analysis is also done for the TEP problem. The proposed model is applied to the IEEE 24 bus reliability test system and the results are efficient and promising.