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RESs Integration and Transmission Expansion Planning Considering Load Shedding Costs

In this paper, Generation and Transmission Expansion Planning problem is applied to a fictive network considering a stochastic approach. The mathematical model presented is a mixed-integer linear programming problem (MILP) where losses are neglected. The objective function of the mathematical model is minimizing the generation costs, the investment costs and the load shed cost. The paper highlights the importance of the load shed cost values that represents the penalty that must be paid for the disconnection of a demand. The chosen costs are used in real power system expansions in Romania in 2018.