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Summary With the increasing penetration level of renewable energies and the related problems to the stochastic nature of their output power, reliable decision making in power system expansion has faced new challenges. This paper presents a new stochastic structure for coordinating expansion planning of transmission and integrated wind farms along with energy storage systems in the electricity market environment. Thereupon, uncertainties pertained to the power output of wind farms, locational marginal prices (LMPs), and load demands have been taken into consideration. Neglecting the correlation between the wind speeds in multiple wind farms may lead to an increase in investment risk of the power system. Hence, this correlation is modeled through both Weibull probability distribution and Copula functions. The given results of the proposed structure applied to Garver 6‐bus test system and Guilan province 230, and 132‐kV transmission systems indicate the effectiveness of the Copula function.

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