| The research object of this paper is the consumer price system on market mechanism. Based on the reliability assessment of Composite Generation and Transmission Systems, we analyse the relationship between Power System Reliability and Power System economics in Power Market, then the modeling of consumer price system considering the value of Power System Reliability and the investment plan of Bulk Power Systems are proposed.The main results in detail include the following:①The program of reliability assessment of Composite Generation and Transmission Systems is presented. This program is based on AC power flow and C/C++. As example, the reliability calculation of IEEE24-BUS Test System shows that this program is feasible.② As the pivot of Power Market, electricity price system is very important for the frame and the development of Power Market. Rational price system must give attention to two aspects: production costs from supply-side and the load characteristics from demand-side. But the present price system only considers the production costs and neglects the load characteristics. It is fair for both the producers and the consumers that different reliability level should correspond to different price, higher level reliability correspond to higher price and lower level reliability correspond to lower price.At first, this paper calculates the reliability indices of Bulk Power Systems, and then a new electricity price system based on one of the reliability indices — Loss Of Load Probability (LOLP) is proposed. The method which is called Apportionment by LOLP pays attention to the benefit of both producers and consumers.③ As the competition mechanism has been introduced in restructuring power industry, transmission companies and generation companies can make decisions themselves on how to enlarge Bulk Power Systems instead of monopoly decision-making in the past. Transmission companies and generation companies will invest only when there will be new profit. Therefore, they make their investment decisions based mostly on the return of the investment, but not the enhancement of Power System Reliability. On this condition, in order to construct the Bulk Power Systems quickly and rationally, we should quantify the benefit of reliability and make afair benefit distribution between all parts.Based on the electricity price system above, a new investment plan for Bulk Power Systems is proposed. In this plan, Consumer price rises because of the enhancement of Power System reliability and the decrease of cost of outage. At the same time, investors can reclaim their fund from the increments of consumer price. By this way, we can attract investment for Bulk Power Systems and enhance consumer's reliability synchronously.RBTS6-BUS Test System is used as an example, and the result shows the feasibility and the rationality of consumer price system based on the value of Power System Reliability and the investment plan of Bulk Power Systems.
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