Composite system adequacy evaluation using sequential Monte Carlo simulation for deregulated power systems

Deregulation has brought many changes to the vertically regulated power system. As a result, the analyses methods of power system tend to change too, among which are reliability evaluation issues. This paper addresses several issues concerning the implementation of composite system adequacy evaluation using sequential Monte Carlo simulation method. They include incorporating the modeling of bilateral and pool type transactions into the state sampling stage and the optimal power flow (OPF) with the consideration of transaction patterns into the state evaluation stage. Examples are given out to demonstrate these considerations.