Risk analysis approach for generation adequacy assessment in a deregulated environment

K.L. Lo, A.H. Hashim

Research output: Contribution to journalArticle

Abstract

A system operator (SO) of a transmission network consistently aims to minimise operating costs whilst still maintaining a certain degree of system adequacy. One of the ways to achieve this is by minimising the level of spinning reserve (SR) in the system. In order to do so, the level of SR must be analysed. This study looks at quantifying the risk of inadequacy when the SR is varied. A study was done for a period of 24?h with 30?m intervals to determine the risk level at each period. The number of generators despatched, system power margin and the system sell price was all taken into account. Risk was then computed by factoring the probability of generation inadequacy and the cost of purchasing the imbalance from the balancing market.
Original languageEnglish
Pages (from-to)467-483
Number of pages16
JournalCOMPEL: The International Journal for Computation and Mathematics in Electrical and Electronic Engineering
Volume23
Issue number2
DOIs
Publication statusPublished - 2004

Keywords

  • power transmission systems
  • risk assessment
  • systems analysis
  • risk analysis
  • power systems

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