PREVENTIVE AND CORRECTIVE SECURITY MARKET MODEL

Previous large blackouts in North America and Europe demonstrated that power system security issues have been neglected in favor of more financial con- cerns. While making decisions on generating unit schedul- ing by minimizing in the energy resource cost, the system operators also must provide adequate amount of reserve to keep up power system security in case of unforeseen events. Traditionally, security control was performed by preventive and corrective control actions. In this paper, we define preventive and corrective security markets corres- ponding to these two security actions. Making a trade-off between these two markets for reserve resource provision is deemed to be necessary. A new SCUC problem is pro- posed to model the relation between preventive and cor- rective security market. Benders decomposition is em- ployed to solve the proposed model. By solving the SCUC problem, the optimal reserve resources required under pre-contingency and post-contingency state are deter- mined. Three-bus test case is used to demonstrate the performance of the presented method.