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Value-Based Transmission Planning Considering Load Duration Curve

Benefit and cost should be considered in planning method under power market environment, which requires a reasonable method to measure the value of invested equipment. Value-based transmission planning recognizes the reliability needs of traditional planning while providing long-term extensions that address economic value. In this paper, the annual value of lines is evaluated with the help of load duration curve, and value indexes are established based on the line's mitigation of grid congestion and line power flow. Furthermore, based on the value indexes and investment cost, a multi-objective transmission planning model is proposed, and an improved genetic algorithm is used to solve the model. The effectiveness of the proposed method is verified through the case study based on the modified IEEE39 bus system.