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This paper presents novel methods to approximate the nonlinear AC optimal power flow (OPF) into tractable linear/quadratic programming (LP/QP) based OPF problems that can be used for power system planning and operation. We derive a linear power flow approximation and consider a convex reformulation of the power losses in the form of absolute value functions. We show four ways how to incorporate this approximation into LP/QP based OPF problems. In a comprehensive case study the usefulness of our OPF methods is analyzed and compared with an existing OPF relaxation and approximation method. As a result, the errors on voltage magnitudes and angles are reasonable, while obtaining near-optimal results for typical scenarios. We find that our methods reduce significantly the computational complexity compared to the nonlinear AC-OPF making them a good choice for planning purposes.

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