RELIABILITY AND PRICE ASSESSMENT OF RESTRUCTURED POWER SYSTEMRELIABILITY AND PRICE ASSESSMENT OF RESTRUCTURED POWER SYSTEM

Abstract

Power system restructuring has the changed the way in which system reliability management and electricity pricing done over the decades. Load shedding and generation re-dispatch mechanism used in the existing reliability evaluation technique have to be improved to incorporate these changes. This thesis presents a technique to calculate the nodal reliability and nodal prices in restructured power system. Contingency analysis has been done to determine the selected contingency system states. An optimization technique is proposed to determine the nodal prices for each contingency state obtained from contingency analysis for restructured power system with bilateral model. The objective of the problem is to minimize the generation cost subjected to network constraints. The impact of unavailability of generation and transmission system on load point reliability and nodal prices has been shown. Instead of using nodal price for the normal operation state, the expected nodal price and the associated standard deviation are used to represent the volatility of nodal price due to random failures. The 6-bus reliability test system (RBTS) has been analyzed to illustrate the technique.