An economic evaluation model of transformers considering outage consequence

A model is established in order to evaluate the economic operation of transformers. We take the outage consequence of transformer into consideration, based on which we obtain the economic operation of a transformer in a specific power system. The outage consequence is related with the structure of the power system, the flow limits in branches and the different outage costs of customers of different nodes. The outage risk is introduced to describe the product of outage probability and outage consequence. In addition, the aging cost and the power loss of a transformer are also considered in this economic evaluation model. At last, the example of 9 nodes system shows that the proposed model can response the varying level of load in a power system. Thus it can reflect the operation condition of transformer in a specific power system more realistically.