Abstract
Electric utilities are experiencing restructuring throughout the world. The reliability techniques used for conventional power systems cannot be directly applied in the new environment. Moreover, electricity pricing in a restructured power system has become a major problem due to the changes in market structure. This chapter addresses reliability and price issues in restructured power systems. A technique to evaluate nodal prices and nodal reliabilities considering the correlation between price and reliability in a restructured power system with the Poolco market model is developed. The reliability network equivalent and the improved optimal power flow model for evaluation of reliabilities and prices in a restructured power system with the hybrid market structure are presented. Moreover, a penalty schema for reducing electricity price volatility and improving customer reliabilities is also discussed.
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Ding, Y., Zuo, M.J., Wang, P. (2008). Reliability and Price Assessment and the Associated Risk Control for Restructured Power Systems. In: Misra, K.B. (eds) Handbook of Performability Engineering. Springer, London. https://doi.org/10.1007/978-1-84800-131-2_70
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DOI: https://doi.org/10.1007/978-1-84800-131-2_70
Publisher Name: Springer, London
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