Risk and uncertainty in power system planning

New methods are needed for dealing with uncertainty and risk in power system planning. This paper discusses the basic issues of uncertainty and risk analysis, and presents a new framework for dealing with them. A previous paper presented trade-off analysis as an approach for dealing with planning pr...

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Bibliographic Details
Published in:Electrical power & energy systems 1991-04, Vol.13 (2), p.81-90
Main Authors: Merrill, Hyde M., Wood, Allen J.
Format: Article
Language:English
Subjects:
Applied sciences
Electrical engineering. Electrical power engineering
Electrical power engineering
Exact sciences and technology
Operation. Load control. Reliability
Power networks and lines
power system planning
risk analysis
uncertainty
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Summary:New methods are needed for dealing with uncertainty and risk in power system planning. This paper discusses the basic issues of uncertainty and risk analysis, and presents a new framework for dealing with them. A previous paper presented trade-off analysis as an approach for dealing with planning problems with multiple conflicting objectives. This paper extends the trade-off method by showing how risks, which arise because of uncertainties, can be dealt with using trade-off analysis. A step-by-step approach is presented and illustrated with case studies.
ISSN:0142-0615
1879-3517
DOI:10.1016/0142-0615(91)90030-Y