Power System Reliability Assessment in a Complex Restructured Power System

The basic purpose of an electric power system is to supply its consumers with electric energy as parsimoniously as possible and with a sensible degree of continuity and quality. It is expected that the solicitation of power system reliability assessment in bulk power systems will continue to increase in the future especially in the newly deregulated power diligence. This paper presents the research conducted on the three areas of incorporating multi-state generating unit models, evaluating system performance indices and identifying transmission paucities in complex system adequacy assessment. The incentives for electricity market participants to endow in new generation and transmission facilities are highly influenced by the market risk in a complex restructured environment. This paper also presents a procedure to identify transmission deficiencies and remedial modification in the composite generation and transmission system and focused on the application of probabilistic techniques in composite system adequacy assessment