Reliability evaluation of an interconnected system in deregulated market

In planning studies, the conventional approach for steady state contingency analysis is to test all contingencies sequentially for evaluating system performance and reliability. This analysis consists of simulating outages of one or more generating units and transmission lines to study their effects on bus voltages, generator MVAR outputs and line power flows. Interconnected system reliability analysis includes the computation of probability of system failure. This quantity may be evaluated based on the probability of individual component outage events. The amount of computation required increases exponentially with the number of components in the system. Therefore, an exact calculation of system failure probability is not feasible for even moderately large systems. In this paper probability technique has been used for evaluation of reliability of a load point in an interconnected system considering economic condition using loss of load expectation approach. The method has been based on basic reliability equations for evaluation of reliability in terms of failure rate and annual outage duration. In a restructured power system profit maximization plays an important role in addition to uninterrupted power supply. A generalized computer program has been developed.