Value assessment method for expansion planning of generators and transmission networks: a non-iterative approach

In the context of efficient generation expansion planning (GEP) and transmission expansion planning (TEP), value assessment method (VAM) is the critical topic to discuss. Presently, two well-known VAMs, min-cut max-flow (MCMF) and load curtailment strategy (LCS), are used for GEP and TEP. MCMF does not follow electrical laws and is unable to calculate congestion cost (CC) and re-dispatch cost (RDC). LCS calculates both, but in iterative way, thus takes a long time to provide solution. In the constrained network, multiple quantities like demand/energy not served (D/ENS) and generation not served (GNS), wheeling loss (WL), CC and RDC are existing together and thus have to be calculated together to encounter the loss in all aspects. Existing methods show limitations in this regard and do not calculate all above described quantities simultaneously. Thus, in this paper, a non-iterative VAM (NVAM) is presented based on electrical laws, which calculates value of the present and the planned systems by incorporating all system quantities of D/ENS, GNS, WL, CC and RDC together. Due to non-iterative batch approach, it is quite faster compared to the above-mentioned traditional VAMs, i.e., MCMF and LCS. Furthermore, comparative results on IEEE-5 bus and IEEE-24 bus power systems show its higher efficiency. The MATLAB code of the introduced NVAM is provided in “Appendix” for further development by the researchers.