Evaluation of the marginal outage costs of generating systems for the purposes of spot pricing

This paper describes a methodology based on quantitative power system reliability evaluation for calculating the marginal outage costs of generating systems. The proposed method involves the calculation of the incremental expected unserved energy at a given operating reserve level and lead time and the multiplication of this value by the interrupted energy assessment rate of the system. The method is illustrated in this paper by calculating the marginal outage cost profile of the IEEE-Reliability Test System and by examining the effect of various modeling assumptions on that profile. >

[1]  Roy Billinton,et al.  Comprehensive bibliography on reliability worth and electrical service consumer interruption costs: 1980-90 , 1991 .

[2]  Fred Schweppe,et al.  Homeostatic Utility Control , 1980, IEEE Transactions on Power Apparatus and Systems.

[3]  M. G. Morgan,et al.  Electric power load management: Some technical, economic, regulatory and social issues , 1979 .

[4]  R. Billinton,et al.  Comparison of Two Alternate Methods to Establish an Interrupted Energy Assessment Rate , 1987, IEEE Transactions on Power Systems.

[5]  F. Schweppe.  Spot Pricing of Electricity , 1988 .

[6]  Roy Billinton,et al.  Evaluation of interrupted energy assessment rates in composite systems , 1990 .

[7]  Arun P. Sanghvi,et al.  Flexible Strategies for Load/Demand Management Using Dynamic Pricing , 1989, IEEE Power Engineering Review.

[8]  T. A. Flaim,et al.  Developing marginal costs for real-time pricing , 1988 .

[9]  Roy Billinton,et al.  Reliability evaluation of power systems , 1984 .

[10]  Probability Subcommittee,et al.  IEEE Reliability Test System , 1979, IEEE Transactions on Power Apparatus and Systems.

[11]  B. Lescoeur,et al.  Tariffs and Load Management - The French Experience , 1987, IEEE Power Engineering Review.

[12]  M. Munasinghe,et al.  Principles of modern electricity pricing , 1981, Proceedings of the IEEE.

[13]  Arun P. Sanghvi,et al.  Economic costs of electricity supply interruptions: US and foreign experience , 1982 .

[14]  R. Billinton,et al.  The IEEE Reliability Test System???Extensions to and Evaluation of the Generating System , 1986, IEEE Power Engineering Review.

[15]  M. Caramanis,et al.  Optimal Spot Pricing: Practice and Theory , 1982, IEEE Power Engineering Review.

[16]  Roy Billinton,et al.  Comparison of alternative techniques for evaluating the marginal outage costs of generating systems , 1993 .

[17]  Roy Billinton,et al.  Assessment of electric service reliability worth , 1991 .

[18]  Michael C. Caramanis,et al.  Evaluation of Spot Price Based Electricity Rates , 1985 .