Method of adequacy optimization of electric power systems under market conditions

Abstract

We suggest a new approach to optimization of the adequacy of electric power system under market conditions which involve competition of various interests of market agents. This feature makes unsuitable of traditional methods for optimization of the adequacy of electric power system. The reliability analysis of the variants of development of electric power system is carried out on the base of the Monte Carlo method. The profit of generating companies is calculated by the obtained reliability indexes which characterize some variant of electric power system development. The investigated variant of development of electric power system is effective if all generating companies choose a sufficient level of reliability that satisfies the consumer. The results of experimental research are presented in the paper.