COORDINATION TO POWER SYSTEM OPERATIONAL RELIABILITY IN POWER MARKET BASED ON PRICE ELASTICITY

Power system reliability indices change with load variation.There is a complicated non-linear relationship between load and reliability indices,and it can't be simplified to a linear model.In offline economic dispatch,power balance can be controlled by price setting,which has little effect to improve power system reliability.In electrical market,considering customer's reaction to spot price,price elasticity can be adopted to adjust system operation risk.Price increment will lead to load decrease or load shift with time,thus decrease system operation risk.Price decrement will inspirit load consumption and increase the risk.Based on quantitative analysis to price elasticity,a new algorithm is presented in the paper to coordinate spot price and reliability.A closed loop including dispatcher,consumer,price,load and risk indices is formed to continuously regulate power system operational reliability.Results on IEEE test system validate the algorithm and show its prospect in online application.