Abstract
This paper presents a unified approach for the computation of combined reliability and power quality (PQ) indices using a value-based methodology. An assessment methodology is presented to unify PQ considering load dynamics and cost-benefit relationships. The methodology is based on failure mode & effects analysis and an improved reliability and voltage sags assessment model in that includes load dynamics. PQ indices are first classified into mis-operations, aging, and losses, and then the indices from each class are converted into cost and summed. By converting diverse indices into cost, a unified index is obtained.
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