Competitive markets expose transmission planners to new uncertainties. These are handled using a decision-analysis approach whose key contribution is quantifying and minimizing risk. The method is applied using existing and generally-available software tools. The result is transmission plan which is robust in the face of uncertainties. A study of a major proposed Central-American interconnection illustrates the problem and the method.
Keywords: Power transmission planning, decision-making, uncertainty, risk, robustness, competition
IEEE Transactions on Power Systems. Volume: 14 Issue: 2 Pages: 460-465
Published on paper: May 1999.