@inproceedings{5036bdcbab9349828d77cd816352e832,
title = "Developing a model to simulate least economic cost evaluation of transmission expansion investment",
abstract = "Transmission planning can broadly be categorized into deterministic and probabilistic reliability planning. The probabilistic approach is often preferred as it aims to reduce transmission supply costs, by sharing risk between the customer and the utility. This is done by determining the least economic cost (LEC) between the customer interruption cost (CIC) and capital investment required to improve the network reliability. However performing a LEC evaluation requires substantially more variables than deterministic evaluation. This paper analyses the LEC methodology and develops a simulation model to perform probabilistic least economic cost evaluations.",
keywords = "Decision-making, EEAR, EENS, Power transmission economics, Power transmission planning",
author = "Marais, {R. H.} and Rastko Zivanovic and Roy Estment",
year = "2006",
doi = "10.1109/PMAPS.2006.360330",
language = "English",
isbn = "9171783520",
series = "2006 9th International Conference on Probabilistic Methods Applied to Power Systems, PMAPS",
booktitle = "2006 9th International Conference on Probabilistic Methods Applied to Power Systems, PMAPS",
note = "2006 9th International Conference on Probabilistic Methods Applied to Power Systems, PMAPS ; Conference date: 11-06-2006 Through 15-06-2006",
}