Dynamic performance and resource mixmodification in competitive environments

Within the competitive framework of the electricity industry, there is a need for tools to assess both the current and short-term operating conditions. A metric consisting of a global index used as an alert device to decide on resource mix modifications, based on a quantitative assessment of the dynamic performance of the power system, is developed and applied. The proposed metric includes a set of indices to evaluate both the system´s steady-state operating condition and the three main dynamic aspects of system stability: transient or angular stability, frequency stability and voltage stability. These indices are weighted according to the security and quality levels required by regulatory policies. Based on the value of the global index, control actions are established and economically evaluated according to a cost-benefit analysis for improving the dynamic performance of the system. The metric is applied to one of Chile´s interconnected grid systems in five different operating scenarios.