Voltage Security Pricing Based on Availability Measures in Composite Power System

In this paper an optimal power flow problem is developed, linking short-term and long-term performances of power systems. Here, along with security pricing the emphasis is on the voltage instability phenomena. The calculations are based on risk and sensitivity analysis. The resultant Locational Marginal Prices account for both security and stochastic nature of power system. To calculate these prices the discrete processed risk data is approximated using splines and inserted into the optimization problem, while preserving problem convexity. Finally the optimization problem is solved efficiently via Interior Point method. The burden of online and offline calculations are adjusted reasonably to improve the effectiveness of the approach while preserving results precision.