Transmission Network Expansion with Significant Wind Power Integration Considering Locational Marginal Price

The integration of large quantities of wind energy into electricity networks represents the biggest challenge for the planning and management of transmission expansion and congestion management. The Location marginal price (LMP) is a pricing mechanism that plays a key role in meeting these challenges by optimizing the expansion of transmission infrastructure and reducing congestion. This paper investigates the impact of LMP on transmission expansion planning and congestion management, particularly in the context of large-scale wind power integration. We investigate the potential benefits of LMP in encouraging efficient use of wind power and guiding transmission investment to adapt to higher penetration rates of wind power. This paper takes into consideration wind curtailment cost and load shedding based on locational marginal prices to deal with the transmission expansion planning problem in the presence of significant wind power integration.