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Tools for Strategic Planning of Electric Utilities are desirable that allow modelling of uncertainties, treatment of concerns other than cost and that have both simulation and optimization capabilities. DEFNET (Decision Framework for New Technologies) is one such tool that has been developed at SC (Systems Control) under the sponsorship of EPRI (Electric Power Research Institute). DEFNET is based on Decision Analysis and Dynamic Programming and has been implemented using highly modular, user friendly code, that facilitates use and modifications by Utility Planners. Experience of Utility planners can be incorporated into the planning process by including convenient system strategic configurations and decision additions at appropriate times of the planning horizon. DEFNET uses less detailed models for resources while maintaining reasonable degree of accuracy in estimating the costs, energy and other related quantities. This keeps the amount of effort in data preparation and the CPU requirement at low level. The features described above makes DEFNET particularly attractive to be used as an interactive tool in Strategic Planning. DEFNET has been successfully tested with the simulated data of two dissimilar Western Utilities.