Abstract
We propose the new model of generation adequacy optimization. Optimization criterion is a maximum of social welfare. Social welfare consists of profits of generating companies, consumer surplus, costs for development and servicing of electrical grids. In the article we present a review of existed methods of adequacy level management in liberalized electric power systems. Optimization of adequacy level is based on analysis of variants of development of the electric power system. For adequacy analysis of the variants of development we multiple estimate the electricity shortage in random hours of the system work. Analysis of the system work in every random hour is realized in two stages. At first we define values of equilibrium electricity demand in every system node and equilibrium price of electricity according to Cournot model. We consider only electricity market in the model. At the next stage we simulate failures of power generating equipment and transmission lines. The electricity shortage in a current hour is estimated on the second stage. After a whole cycle of analysis, we compute reliability indexes and profits of generating companies. Profits of generating companies are depended on the reliability of the electricity supply. The simulations of random values are based on Monte Carlo method.
Highlights
Reliability of electricity supply can be defined as the ability of an electric power system to satisfy the demand for electricity with according to accepted standards and required volumes
In the article we present a review of existed methods of generation adequacy management in liberalized electric power systems
Optimization of adequacy is based on adequacy analysis of variants of development of the electric power system
Summary
Reliability of electricity supply can be defined as the ability of an electric power system to satisfy the demand for electricity with according to accepted standards and required volumes. The similar situations were on spot markets of Australia and Great Britain [6] Another way for management of reliability of electricity supply in liberalized electric power systems is the establishment of payments to generating companies for their capacity. Consumers can abandon new contracts and reduce their load in high price periods that lead to increase general reliability level of electricity supply [8]. This kind of reliability management was chosen in Great Britain after market failures at the end of the 90th [9]. Not effective requirements lead to the strengthening of monopoly power on the market or building of excess power reserves
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