Optimal long term transmission expansion planning based on maximum principle

The authors propose an algorithm for long-term transmission expansion planning. The algorithm is based on the linear power flow and failure probabilities for the operation cost model, and the maximum principle for the long-term investment model. The optimization problem consists of the long-term problem to determine the annual investment, and the yearly problem to determine the optimal operation. The long-term problem is formulated as a Hamiltonian minimization problem and the yearly problem is formulated as a linear programming problem.>