A fast optimal load shedding method for power system reliability assessment based on shadow price theory

Abstract

The optimal load shedding calculations of an enormous number of contingency states are the most challenging impediments for power system reliability assessment, especially in a large-scale system with multiple types of loads. To deal with that, this paper proposes a fast method that accelerates the calculation of optimal load shedding based on the shadow price. This method calculates the optimal load shedding of systems by shadow-price-based linear functions, rather than the time-consuming OPF algorithms. The hundred percentage criterion is used to look for the matching shadow price of states. Case studies are performed on the RTS-79 system. The results show that the proposed methodology can significantly simplify the solving process and reduce the calculation time.

Keywords

• Reliability assessment
• Optimal load shedding
• Shadow price
• Sensitivity analysis