Dynamic Market-Based Generation-Transmission Expansion Planning Considering Fixed Series Compensation Allocation

This paper presents a market-based multi-period generation-transmission expansion planning (GTEP) along with fixed series compensation (FSC) allocation. FSCs can dispatch power more efficiently over the transmission network as well as trading opportunities for market participants and thus improve market surplus and reduce the total transmission investment. The proposed planning may accordingly enhance network efficiency and improve social welfare for all participants. The proposed model is structured as a mixed integer linear programming (MILP) problem. The CPLEX solver, as a commercial solver, is used to solve this MILP problem. Moreover, to find a reliable and viable optimal topology, N - 1 security criterion is employed through the proposed model. This criterion is used to take into account any unanticipated operating condition due to unexpected transmission line failures. The proposed model is applied to the Garver and IEEE 24-bus systems as well-known systems to show the effectiveness of FSC in dynamic GTEP.