As the electrical power industry is restructured, the
electrical power exchange is becoming extended. One of the key
information used to determine how much power can be transferred
through the network is known as available transfer capability (ATC).
To calculate ATC, traditional deterministic approach is based on the
severest case, but the approach has the complexity of procedure.
Therefore, novel approach for ATC calculation is proposed using
cost-optimization method in this paper, and is compared with
well-being method and risk-benefit method. This paper proposes the
optimal transfer capability of HVDC system between mainland and a
separated island in Korea through these three methods. These
methods will consider production cost, wheeling charge through
HVDC system and outage cost with one depth (N-1 contingency).