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Probabilistic socio-economic cost assessment integrating power market and reliability analysis

Probabilistic socio-economic cost assessment integrating power market and reliability analysis

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Sammendrag
Abstract: Moving from deterministic to probabilistic reliability criteria for power systems necessitates probabilistic methods for socio-economic impact assessment. This paper demonstrates a probabilistic assessment of the long-term impact of the amount of transmission capacity given to the power market both on the market costs and on the expected customer interruption costs. A hydro-thermal market analysis is integrated with a contingency and reliability analysis and applied to the Nordic power system, focusing on a particular region of Norway and the transmission limits for this region. The results of this analysis are then combined in a socio-economic cost assessment that illustrates how a probabilistic approach and flexible transmission limits may allow for a more socio-economically optimal utilization of the grid. The results show that the impact of uncertainties (climatic variability) on the socio-economic cost assessment can be substantial.
Oppdragsgiver
  • EC/FP7 / 608540
Språk
Engelsk
Institusjon(er)
  • SINTEF Energi AS / Energisystemer
År
2018
Forlag
IEEE conference proceedings
Bok
2018 IEEE International Conference on Probabilistic Methods Applied to Power Systems - PMAPS
ISBN
978-1-5386-3596-4