@article{Konstantelos:2015:10.1109/TPWRS.2014.2363364,
author = {Konstantelos, I and Strbac, G},
doi = {10.1109/TPWRS.2014.2363364},
journal = {IEEE Transactions on Power Systems},
pages = {1047--1055},
title = {Valuation of flexible transmission investment options under uncertainty},
url = {http://dx.doi.org/10.1109/TPWRS.2014.2363364},
volume = {30},
year = {2015}
}

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TY  - JOUR
AB  - Significant uncertainty surrounds the future development of electricity systems, primarily in terms of size, location and type of new renewable generation to be connected. In this paper we assess the potential for flexible network technologies, such as phase-shifting transformers, and non-network solutions, such as energy storage and demand-side management, to constitute valuable interim measures within a long-term planning strategy. The benefit of such flexible assets lies not only in the transmission services provided but also in the way they can facilitate and de-risk subsequent decisions by deferring commitment to capital-intensive projects until more information on generation development becomes available. A novel stochastic formulation for transmission expansion planning is presented that includes consideration of investment in these flexible solutions. The proposed framework is demonstrated with a case study on the IEEE-RTS where flexible technologies are shown to constitute valuable investment options when facing uncertainties in future renewable generation development.
AU  - Konstantelos,I
AU  - Strbac,G
DO  - 10.1109/TPWRS.2014.2363364
EP  - 1055
PY  - 2015///
SN  - 0885-8950
SP  - 1047
TI  - Valuation of flexible transmission investment options under uncertainty
T2  - IEEE Transactions on Power Systems
UR  - http://dx.doi.org/10.1109/TPWRS.2014.2363364
UR  - https://ieeexplore.ieee.org/document/6936945
UR  - http://hdl.handle.net/10044/1/28441
VL  - 30
ER  - 

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