Security-constrained operational planning in power systems

The establishment of the restructured electricity market must achieve two main objectives: ensuring a secure operation and facilitating an economical operation. The economical operation of the electricity market would reduce the cost of electricity utilization. In the mean time, security is still the most important aspect of the power system operation. However, the system security is facing challenges when recent market developments provide flexible operation options for some participants, such as GENCOs, TRANSCOs and DISCOs. Indeed, such conflict between security and economics is inevitable in a competitive environment. How to obtain a trade-off between them in the restructured electricity industry is the main theme of this dissertation.;To do this, proper market design and implementation based on power system requirements are indispensable. From the physical operation viewpoint, a proper long-term planning or mid-term operation planning could provide a wider range of options for managing the security in short-term and real-time power systems operations. In addition, the power system operation strategies over shorter time periods (real-time and short-term operation) could yield useful security signals such that the scheduling over a longer time span (mid-term and long-term) could be more efficient and practical. In essence, a global analysis of security options could provide additional opportunities for seeking optimal and feasible states in various time scales. Accordingly, this dissertation discusses some assumptions, functions, and calculation tools that are considered for satisfying power systems security requirements in short term operation and mid-term operation planning.