Abstract
This chapter illustrates an extended effective load model for nodal indices of probabilistic production cost simulation and reliability evaluation. Appropriate concepts of nodal probability production cost simulation and reliability evaluation for independent transmission system operators under a competitive environment need to be developed. The conventional effective load duration curve for only generation systems has played an important role in probabilistic production cost simulation and reliability evaluation for generation system expansion planning and supplies some very useful information. The algorithm for making the CoMposite power systems Effective Load Duration Curve (CMELDC) is illustrated in detail by a numerical example using a simple model. The CMELDC based on the effective load model at HLII will extend the various application research areas of nodal probabilistic production cost simulation, outage cost assessment, and reliability evaluation. The differences between the probabilistic production costs at HLI and HLII come from the uncertainties associated with failures in the transmission system facilities.
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