Effects of markets on system reliability and dynamic performance

Worldwide, the electric systems are changing their organization from a vertical integrated to a liberalized structure, more difficult to coordinate. In particular, in the new environment, several new "actors" are in competition to each other, and this requires a set of rules to manage in an efficient way the electric system together with the electric market, promoting the competition. For this new structure, an efficient management of the generation and transmission infrastructures is required. The paper presents a review of the impact of the market on the power system reliability, with particular reference to the Italian case study