Importance of Reliability Criterion in Power System Expansion Planning

Goran Slipac, Mladen Zeljko and Damir Šljivac
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Goran Slipac: Croatian Power Company (HEP d.d.), Zagreb 10000, Croatia
Mladen Zeljko: Energy Institute Hrvoje Požar (EIHP), Zagreb 10000, Croatia
Damir Šljivac: Faculty of Electrical Engineering, Computer Science and Information Technology (FERIT), Josip Juraj Strossmayer University of Osijek, Osijek 31000, Croatia

Energies, 2019, vol. 12, issue 9, 1-18

Abstract: The self-sufficiency of a power system is no longer a relevant issue at the electricity market, since day-to-day optimization and security of supply are realized at the regional or the internal electricity market. Research connected to security of supply, i.e., having reliable power capacities to meet demand, has been conducted by transmission system operators. Some of the common parameters of security of supply are loss of load probability (LOLP) and/or loss of load expectation (LOLE), which are calculated by a special algorithm. These parameters are specific for each power system. This work presents the way of calculating LOLP as well as the optimization algorithm of LOLP, which takes into consideration the particularities of the power system. It also presents a difference in the treatment of LOLP regarding the observed power system and the necessary installed power capacity if applied to the calculated LOLP in relation to the optimized LOLP. As a conclusion, the study analyzed the parameters impact the regional electricity market—where the participants are countries with different development levels and various particularities of power systems—i.e., what it means when the same LOLP criterion is applied to them and the optimized LOLP.

Keywords: security of supply; LOLP optimization; VOLL; generation expansion planning; reliability (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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