Interpreting the Value of Flexibility in AC Security-Constrained Transmission Expansion Planning via a Cooperative Game Framework

Security-constrained transmission expansion planning (SCTEP) is an inherently complex problem that requires simultaneously solving multiple contingencies (e.g., N-1 security criterion). Existing studies focus on finding optimal solutions; however, single optimal solutions are not sufficient to interpret the value of flexibility (e.g., from energy storage systems) and support system planners in well-informed decision making. In view of planning uncertainties, it is necessary to estimate the contributions of flexibility to various objectives and prioritise the most effective investments. In this regard, this work introduces a SCTEP tool that enables interpreting the value of flexibility in terms of contributions to avoided load curtailment and total expected system cost reduction. Inspired by cooperative game theory, the tool ranks the contributions of flexibility providers and compares them against traditional line reinforcements. This information can be used by system planners to prioritise investments with higher contributions and synergistic capabilities.