Reliability assessment of a restructured power system with hybrid market structure using reliability network equivalent approaches

This paper presents a technique to evaluate nodal reliability in a hybrid power market. Reliability models for the power pool and bilateral suppliers have been developed using reliability network equivalents. The impact of customer response on nodal reliabilities is included in the technique. Optimal power flow is used to replace AC power flow to minimize total system cost in each contingency state. The IEEE RTS has been analyzed to illustrate the technique.