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A Modeling paradigm for extending well-being analysis to a composite bilateral contracts market

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Title A Modeling paradigm for extending well-being analysis to a composite bilateral contracts market
 
Creator VERMA, AK
VENU, VV
 
Subject commitment health analysis
restructured power-system
monte-carlo-simulation
spinning reserve
unit commitment
reliability evaluation
transmission-systems
generation
framework
allocation
bilateral contracts
deregulation
power flow tracing
reliability
network equivalents
well-being analysis
reserve management
 
Description Economic trading brought on by the introduction of markets in the realm of power systems has witnessed a drastic shift in the way customer-say is incorporated into reliability apportioning. As customers are the sole determinants of profit making ventures in the liberalized regime, it is imperative that they be provided with ample decision support through reliability management options for the selective implementation of non-uniform reliability. The emergent equivalence techniques take into account the structural changes that necessitate the transitional operational framework in the restructured scenario. They provide clientele with the customary adequacy indices such as Loss of Load Probability (LOLP) and Expected Energy Not Served (EENS), enabling them to choose their generation providers according to pre-defined desirable thresholds. In a move towards facilitating them with additional means to base their decisions on, this paper puts forward a philosophical modeling paradigm that investigates the feasibility of extending the hybrid approach of well-being analysis, which encompasses part deterministic and part probabilistic features, to a composite bilateral contracts market structure. In this work, reliability network equivalent techniques are deemed fit to be used in conjunction with power now tracing methodology to pave the way for a realistic Failure Modes and Effects Analysis (FMEA) phase, potentially culminating in the evaluation of well-being indices. This information can be used by Gencos as a standard to evolve the reserve management criteria as per the customer expectations.
 
Publisher IEEE
 
Date 2011-10-25T16:20:13Z
2011-12-15T09:12:01Z
2011-10-25T16:20:13Z
2011-12-15T09:12:01Z
2009
 
Type Proceedings Paper
 
Identifier 2009 IEEE/PES POWER SYSTEMS CONFERENCE AND EXPOSITION, VOLS 1-3,1150-1155
978-1-4244-3810-5
http://dspace.library.iitb.ac.in/xmlui/handle/10054/15766
http://hdl.handle.net/100/2424
 
Source IEEE/PES Power Systems Conference and Exposition,Seattle, WA,MAR 15-18, 2009
 
Language English