Transmission network expansion planning with stochastic multivariate load and wind modeling

The increasing penetration of intermittent energy sources along with the introduction of shiftable load elements renders transmission network expansion planning (TNEP) a challenging task. In particular, the ever-expanding spectrum of possible operating points necessitates the consideration of a very large number of scenarios within a cost-benefit framework, leading to computational issues. On the other hand, failure to adequately capture the behavior of stochastic parameters can lead to inefficient expansion plans. This paper proposes a novel TNEP framework that accommodates multiple sources of operational stochasticity. Inter-spatial dependencies between loads in various locations and intermittent generation units' output are captured by using a multivariate Gaussian copula. This statistical model forms the basis of a Monte Carlo analysis framework for exploring the uncertainty state-space. Benders decomposition is applied to efficiently split the investment and operation problems. The advantages of the proposed model are demonstrated through a case study on the IEEE 118-bus system. By evaluating the confidence interval of the optimality gap, the advantages of the proposed approach over conventional techniques are clearly demonstrated.