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The quality of the electrical supply has a direct impact on the correct function and operation of equipment connected to the public electricity supply network. There is an expectation that devices will operate as designed and that equipment lifetime should, statistically, be close to the designed value. The reliability of the network is generally assumed to be high enough so as to not cause unacceptable...
Gas-insulated switchgears (GIS) are emerging as more capable power system assets than conventional air-insulated switchgears (AIS), especially in terms of operational reliability and maintenance requirements. However, insufficient consideration is often given to comparing GIS and AIS substation project options. Therefore, a more effective approach is needed to better inform project investment decisions...
This paper assesses economic significance of Basslink in terms of market benefits, namely operating, capital and unserved energy cost savings. It presents long term market benefit modelling framework consistent with the Australian Regulatory Investment Test for Transmission to assess the market benefits attributable to Basslink. Economic analysis concludes that Basslink continues to be economic value...
Recently, a massive focus has been made on DR programs, mainly on decreasing electricity price, resolving transmission lines congestion, reliability enhancement and market liquidity improving. Basically, demand response programs are separated into two main groups named, incentive-based programs and time-based programs. The focus of this paper is on Time of Use (TOU) program and Direct Load Control...
In the process of determining and investigating the reasonable operation mode of transformer, how to consider reliability and economic operation of transformer is a very important and necessary work. This dissertation chiefly studies the topic of accounting reliability and economic operation of transformer. Economy and reliability are the most two important index of Power System, but also contradictory...
The reliability of electrical power supply is amongst the ambient conditions that inform house purchase decisions in all major cities. Where there is sufficient variation in outages and infrastructural conditions across an urban system it is possible to use hedonic price functions to estimate people's willingness to pay for more reliability in power supply (or willingness to accept compensation for...
This paper presents a model for solving the multistage planning problem of a distribution network. The objective function to be minimized is the net present value of the investment cost to add, reinforce or replace feeders and substations, losses cost, and operation and maintenance cost. The model considers three levels of load in each node and two investment alternatives for each resource to be added,...
In this paper a new algorithm for determination of optimal active power reserve capacity requirements and energy and spinning reserve allocation in power system during the 24 hours is presented. In the proposed method, the optimum amount of reserve capacity per hour is determined proportional to network security level required by the system operator. In this way, it is essential to define a proper...
Today's capacity markets may be viewed as an additional source of income for generators to compensate the money lost due to regulatory imposed caps. Those additional money flows and other design characteristics serve, theoretically, to achieve system adequacy in a market environment. In this paper, we analyze key aspects of today's capacity market designs. Our main finding is that some design elements...
This paper describes the objectives of the Working Group (WG) on Test Systems for Economic Analysis of Power Systems, and presents the current activities of the WG as well as the future plan.
Capacity markets have been launched at several ISOs in the US. Many questions arise: Is a capacity market for missing money or reliability? What is a capacity product? How to price the capacity product? These questions are nontrivial and have been discussed in the literature mostly from the economics perspective. This paper attempts to address them from both economics and engineering perspectives...
Microgrids are defined as an area of network that is capable of operating autonomously from the rest of the electricity system. They achieve this by containing enough energy resources to meet all incorporated electrical (and thermal) loads, and by coordinating control in order to meet the participants' aims, and afford adequate quality/reliability of power and heat supply. From an economic point-of-view,...
In this paper we start by recalling the seminal concepts underlying adaptive reliability of Tom Dy Liacco conceived almost four decades ago. Unfortunately, these concepts have not developed nor have been adopted by the industry yet. Recent efforts toward grid modernization will fall short of the anticipated expectations unless this gets implemented. Two distinct, yet related, challenges and opportunities...
This paper reports upon the security-constrained commitment and dispatch algorithms and their implementation for Midwest ISO's day-ahead co-optimized energy and ancillary service markets. The MIP method is utilized to solve the DA market and the RA commitment problems and the LP method solves the DA market clearing problem. Demand response resources are qualified for provision of energy and ancillary...
Reasonable preventive maintenance mechanism can effectively improve the reliability of protective systems. According to the research on the reliability and economic, this study advanced a quantitative evaluation reliability model of protective systems based on semi-Markov process, and defined the annual average economic losses of protective systems. Therefore, the optimum maintenance interval was...
The New England power system is highly dependent on natural gas-fired generating units. As a result, the price of natural gas drives the price of electrical energy and the amount of environmental emissions. The system benefits when the price of natural gas is low. However, there is a need to mitigate the risks of high prices of natural gas through the diversification of fuel supply, especially as...
Power supply reliability is one of the main criteria in estimation of power system networks. The decisions on radical changes in branch of electric power control and trade are still caused by essential monopolization, then reasoned with politicians, public, economic and technical factors and not less with international influence followed by ascendance to international alliances and wherewith connection...
This article conducts an identification of the relationship between the technical reliability of electrical objects and management accountancy, with regards in particular to characterizing the economics of enterprises in the electrical sector, in which the given electrical object is exploited and is an fix asset. The cause and effect relationship, which manifests itself between the reliability of...
This article deals with the challenges in reliability, security, efficiency, and resilience of energy infrastructure for a smart self-healing electric power grid. The electricity grid faces three looming challenges: its organization, its technical ability to meet 25 year and 50 year electricity needs, and its ability to increase its efficiency without diminishing its reliability and security. These...
Spinning contingency reserve is idle capacity connected to the system to ensure reliable system operations in the case of equipment outages. The reserve has an economic value since it reduces the outage costs. In several electricity markets, reserve demand functions have been implemented to take into account the value of reserve in the market clearing process. These often take the form of a step-down...
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