Exploring Multi-Objective Transmission Planning for Investment-Constrained Power Systems

In power systems comprised of a small number of generators and lines, additional investment significantly affects reliability, debt burden, and operating costs. Wise selection of candidate investments balancing multiple objectives is crucial, especially in developing countries where load shedding may already be in effect. In this work, a static transmission expansion methodology is presented using a multi-objective optimization framework, where investment cost, operating cost, and load shedding cost are combined. Pareto fronts are computed and examined to demonstrate trade-offs and sensitivities evident in the 6-bus Garver model, showing the applicability of the proposed approach.