Value-based reliability -constrained power system stability

For power system operation, the acceptance of reliability is determined on the basis of design criteria expressed in terms of contingencies of pre-defined severity that the system is able to withstand with acceptable transient and steady state performance. The essential operating objective is the delivery to the customers of power with acceptable quality at minimum cost. Both the meaning of "minimum cost" and "acceptable quality" are the result of a number of technical, economic, and ecological perceptions which evolve with time. In the work presented in this dissertation, an integrated framework for value-based reliability constrained power system stability with a benefit allocation scheme for multi utility power system is proposed. The scheme consists of two main parts. The first part proposes a scheme that uses multiple objective optimization that employs Goal Decision network approach and post optimization analysis to produce Pareto-Optimal control strategies and recommends a solution for the Decision-Maker. The second part deals with the economical analysis of the Pareto-Optimal control strategy in terms of cost/benefit analysis to find out the most economical control strategy using a set of indices. It also presents a benefit allocation strategy that is based on a proposed scheme utilizing game theory to model the cooperation and competition between the different utilities forming the power system. The proposed integrated scheme was tested on IEEE test systems and the results show that the proposed scheme is very efficient not only in optimizing both adequacy and security but also in assessing different control strategies economically while providing an efficient strategy for the benefit allocation.