Transmission expansion planning using an efficient version of Benders' decomposition. A case study

Transmission Expansion Planning (TEP) is a central decision in power systems and is currently receiving increased attention due to the integration of renewable power needed to meet the ambitious European emission reduction targets. The TEPES model (long-term Transmission Expansion Planning for an Electric system) unites some of the latest theoretical developments in the field (with some of them having been designed especially for this model) with a practical application, as TEPES is currently used in several international projects. The model identifies the optimal expansion plan in terms of investment expenses, operation cost and reliability penalties. It considers stochasticity in demand, hydro inflows, fuel prices and renewable energy generation. TEPES is solved using an efficient implementation of Benders' decomposition that incorporates some algorithmic improvements that enhance computational performance. Two case studies (one descriptive test case and one real application) illustrate the model.