Reliability assessment of restructured power systems using reliability network equivalent and pseudo-sequential simulation techniques

This paper presents a technique to evaluate reliability of a restructured power system with a bilateral market. The proposed technique is based on the combination of the reliability. network equivalent and pseudo-sequential simulation approaches. The reliability network equivalent techniques have been implemented in the Monte Carlo simulation procedure to reduce the computational burden of the analysis. Pseudo-sequential simulation has been used to increase the computational efficiency of the non-sequential simulation method and to model the chronological aspects of market trading and system operation. Multi-state Markov models for generation and transmission systems are proposed and implemented in the simulation. A new load shedding scheme is proposed during generation inadequacy and network congestion to minimize the load curtailment. The IEEE reliability test system (RTS) is used to illustrate the technique. (C) 2006 Elsevier B.V. All rights reserved.