Developing a model to simulate least economic cost evaluation of transmission expansion investment

R. H. Marais, Rastko Zivanovic, Roy Estment

Research output: Chapter in Book/Report/Conference proceedingsConference contributionpeer-review

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.

Original languageEnglish
Title of host publication2006 9th International Conference on Probabilistic Methods Applied to Power Systems, PMAPS
DOIs
Publication statusPublished - 2006
Externally publishedYes
Event2006 9th International Conference on Probabilistic Methods Applied to Power Systems, PMAPS - Stockholm, Sweden
Duration: 11 Jun 200615 Jun 2006

Publication series

Name2006 9th International Conference on Probabilistic Methods Applied to Power Systems, PMAPS

Conference

Conference2006 9th International Conference on Probabilistic Methods Applied to Power Systems, PMAPS
CountrySweden
CityStockholm
Period11.06.200615.06.2006

Keywords

  • Decision-making
  • EEAR
  • EENS
  • Power transmission economics
  • Power transmission planning

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