EconPapers    
Economics at your fingertips  
 

Risk assessment of power transmission network failures in a uniform pricing electricity market environment

Islam Abdin, Yan-Fu Li and Enrico Zio

Energy, 2017, vol. 138, issue C, 1042-1055

Abstract: This paper proposes a novel risk assessment method for power network failures considering a uniform-pricing market environment, different from previous risk assessment studies, which mainly emphasize technical consequences of the failures. In this type of market, dispatch infeasibilities caused by line failures are solved using a counter-trading mechanism where costs arise as a result of correcting the power dispatch. The risk index proposed takes into account these correction costs as well as the cost of the energy not served due to the failure, while considering an oligopolistic behavior of the generation companies. A 3-stage model is proposed to simulate the bidding behavior in the market, under different line failures scenarios. The risk index proposed and the method for its calculation are applied on an adapted IEEE 6-bus reliability test system. A sensitivity analysis is performed to investigate the sensitivity of the results with respect to the level of competitiveness of the generation companies, measured by the conjectured-price response parameter which is assumed to be exogenous in our study.

Keywords: Risk assessment; Transmission network; Electricity market; Line failure; Conjectural-variation equilibrium; Direct-current optimal power flow (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0360544217311908
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:138:y:2017:i:c:p:1042-1055

DOI: 10.1016/j.energy.2017.07.115

Access Statistics for this article

Energy is currently edited by Henrik Lund and Mark J. Kaiser

More articles in Energy from Elsevier
Bibliographic data for series maintained by Catherine Liu (repec@elsevier.com).

 
Page updated 2024-12-28
Handle: RePEc:eee:energy:v:138:y:2017:i:c:p:1042-1055