Journal ArticleDOI
Evaluation of reliability worth and value of lost load
K.K. Kariuki,R.N. Allan +1 more
- Vol. 143, Iss: 2, pp 171-180
TLDR
In this article, the authors have conducted studies, based on customer surveys, aimed at assessing the customer outage costs (COG) due to electric service interruptions, and a consistent method for calculating the value of lost load (VOLL) is also developed.Abstract:
Customers' perceptions of reliability may not always reflect the level of reliability purported by traditional reliability indices. This has been recognised and efforts have been made by the electricity supply industry (ESI) in the United Kingdom to relate "reliability investment" with customers' marginal benefits obtained from such investment. A difficulty encountered during such earlier and recent efforts has been the lack of appropriate valuation of these benefits. With a view to correcting this paucity, the authors have conducted studies, based on customer surveys, aimed at assessing the customer outage costs (COG) due to electric service interruptions. The incremental values of these costs, /spl Delta/COC, following reliability investment are considered proxies of reliability worth and customers' marginal benefits. The results of these studies have provided a very good insight into customers' concerns regarding supply interruptions, but most importantly a coherent method for evaluating the customer benefits (/spl Delta/COC) has been developed and the required generic data for such evaluation generated. Using these data, a consistent method for calculating the value of lost load (VOLL) is also developed.read more
Citations
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Journal ArticleDOI
Estimating the Spinning Reserve Requirements in Systems With Significant Wind Power Generation Penetration
TL;DR: In this article, the authors proposed a technique to calculate the optimal amount of spinning reserve that the system operator should provide to respond not only to generation outages but also to errors in the forecasts for load and wind power production.
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Factoring the elasticity of demand in electricity prices
TL;DR: In this paper, the effect of the market structure on the elasticity of the demand for electricity is analyzed and the consumers' behavior can be modeled using a matrix of self-and cross-elasticities.
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Market-clearing with stochastic security-part I: formulation
TL;DR: In this article, a stochastic security-constrained multi-period electricity market clearing problem with unit commitment is formulated, where reserve services are determined by economically penalizing the operation of the market by the expected load not served.
Journal ArticleDOI
Multi-time period combined gas and electricity network optimisation
TL;DR: In this paper, a multi-time period combined gas and electricity network optimisation model was developed, taking into account the varying nature of gas flows, network support facilities such as gas storage and the power ramping characteristics of electricity generation units.
Journal ArticleDOI
Optimal scheduling of spinning reserve
TL;DR: In this article, a probabilistic reserve assessment is integrated with the unit commitment function for short-term scheduling, and the optimal value of this risk index is selected on the basis of a tradeoff between the total schedule cost obtained from the UC solution and the expected cost of energy not served.
References
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Book
Reliability Evaluation of Power Systems
Roy Billinton,Ronald N. Allan +1 more
TL;DR: In this paper, the authors present an analysis of the IEEE Reliability Test System (IRTS) and evaluate the reliability worth of the test system with Monte Carlo simulation and three-order equations for overlapping events.
Book
Reliability Assessment of Large Electric Power Systems
Roy Billinton,Ronald N. Allan +1 more
TL;DR: In this article, a wide range of relevant material related to present-day knowledge and application in power system reliability is presented, which will play a role in finding acceptable solutions to such pressures and will encourage the increased use of reliability techniques in practical applications.
Journal ArticleDOI
Customer cost of electric service interruptions
G. Wacker,Roy Billinton +1 more
TL;DR: A survey of the techniques available for estimating customer interruption costs, the rationale of those that are currently popular is discussed, and the application of such cost data in creating a composite customer damage function is explored as discussed by the authors.
Journal ArticleDOI
Assessment of customer outage costs due to electric service interruptions: residential sector
K.K. Kariuki,R.N. Allan +1 more
TL;DR: In this paper, the authors report on the customer characteristics of the residential respondents and their experience of interruptions, the undesirability of some effects of interruption and the variation of undesirabilities of effects with frequency of interruption, season, time of day and weekday/weekend, and customers' ratings of these aspects are also tested for statistical correlation with the customer and experience of interruption variables.