This paper proposes an efficient computational algorithm to determine the environmental and security marginal costs for power system planning and/or expansion planning by solving a multi-objective optimization problem. In the proposed algorithm, the o...
This paper proposes an efficient computational algorithm to determine the environmental and security marginal costs for power system planning and/or expansion planning by solving a multi-objective optimization problem. In the proposed algorithm, the optimal load flow problem is first formulated as a multi-objective optimization prolem. ε-constrained technique is used to obtain a set of non-inferiority solutions. Then, we introduce the idea of sensitivity analysis to decide the security and environmental marginal costs.