Risk-based TTC calculation of a power system with renewable energy resources

Recently, the electric power utilities worldwide have been moving toward the utilization of renewable energy resources because of their sustainability, environmental friendliness, and as promising low-cost energies for the future electricity production. Although a number of appealing advantages are expected, a large penetration of generation from renewable energy resources may cause some undesirable impact on system security and reliability due to the uncertainty of their generation output. Therefore, the power system analysis should be able to cope with and examine the influences resulting from the presence of this sector. In this paper, the influences on the TTC are investigated via the risk and monetary loss. The uncertainty of the forecast demand and the generation output from renewable energy resources is integrated into the calculation by a probabilistic method, Monte Carlo simulation. Furthermore, a partition technique for the Monte Carlo simulation is proposed for the speed enhancement.