Conceptual framework for evaluation and interpretation of the reliability of the composite power system

This paper presents a conceptual framework for power system reliability evaluation which is based on the principles which underlie the procedures used in practice to achieve reliability of operation. Based on this framework, the paper discusses: the interpretation of the meaning of security and adequacy: the observability of security and adequacy interruptions; the different nature of interruptions due to security and adequacy and their impacts on the customer interruption costs; the interdependence of security, adequacy and operating costs; the nature of forced outages of generation and transmission elements and how they impact security and adequacy; and a practical procedure for the calculation of adequacy and security