Research On Investment Decision-making Of Transformer Substation Project Based On Life Cycle Cost Theory

With the growing demand of our society for electricity supply, China's grid construction has also increased the amount of investment. As an important part of grid projects, substation projects'cost occupies a large share of the entire power system's cost. And State Power Grid Corporation is to promote life cycle cost management in grid projects. Therefore, the research of decision method based on life cycle cost management, will improve substation's management and scientific decision-making.This research has great practical value and theoretical significance. Based on the history and research situation of life cycle cost management and the decision-making method of substation projects, this paper analyses the problems in the decision-making of substation projects, from the perspective of the whole life cycle. By studying the implementation of life cycle cost management in decision-making of substation projects in all stage, this paper proposes the decision-making methods of substation based on life cycle cost management concepts, and achieve the optimization of traditional the investment decision-making process. The main research works in this paper are as follows:①Finding out the flaws of decision-making philosophy and comparison methods in the substation projects' decision-making methods based on the whole process management by the research and analysis of the problems in substation's decision-making process.②To be aimed at the defects of the traditional investment decision-making methods, this paper proposes the key of applications of life cycle cost management philosophy in substation investment decision-making ,and then applies the life cycle cost management to the formulation and evaluation of the alternatives of substation project's decision-making,analyzes the life cycle cost of the options in different stages, establishes the life cycle present value model of substation project, selects the index that reflect the Comprehensive benefits in life cycle, establishes the evaluation system, and selects AHP-gray comprehensive evaluation to evaluate the alternatives of substation project. In this paper it summaries the workflow of decision-making in substation project based on LCC management.③The paper analyzed and compared the distinctness between the intelligent substation and the conventional substation by the substation project decision-making methods based on life cycle cost management, and demonstrates the advantages of life cycle cost philosophy that used in substation investment decision-making.