Evaluation of well-being indices for power transactions in deregulated environment

This paper presents an application of system well-being analysis in the assessment of bilateral transactions. This application has the objective of siding system operators to interpret probabilistic indices associated with bilateral transactions. The feasibility of bilateral transactions has been assessed through the definition of system operation states. The probabilities associated with these system operation states have been evaluated using Monte-Carlo Simulation method. Furthermore, expected curtailments and probabilities distributions of the bilateral transactions have been evaluated for several system conditions. Case studies with the New Brunswick Power Company system are presented and discussed.