Minimum cost analysis of station configurations

Substation configuration design in a power system involves both reliability and economic considerations. This paper presents an optimum design selection methodology which minimizes capital costs, maintenance costs and outage costs. The minimization model proposed in this paper incorporates customer interruption costs due to substation originated failures and recognizes the different customer compositions at the various system load buses. Approximate equations and Markov models are utilized to calculate the substation originated failure event probabilities, frequencies and reliability worth, and a comparison is presented. The effect of load model representation on the calculated reliability worth is also discussed