Power system planners today face a radically different environment from that of twenty years ago. Long-term trends are changing dramatically, uncertainty is greater and more pervasive, and a host of priorities conflict. Existing planning tools are inadequate in this set of circumstances. This paper presents a new planning methodology, based on simulation, modeling and regression, and trade-off evaluation (SMARTE). SMARTE is an approach of great generality which overcomes limitations of existing simulation programs as well as present optimal planning packages.
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Merrill et al. (1982) studied this question.
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