Power System “Economic Alarms”

Power system alarms are used as advice to system operators relating to problematic operating conditions. In this paper, conventional alarms and alarm processing as well as the electrical signals that produce those alarms are revisited with a view of incorporating signals that relate to marketing of electrical energy (e.g., locational marginal prices, and forward market positions). The augmented alarms, termed "economic alarms" are intended to be public information, distributed to all power market players. The issues of divulging system information publicly are discussed. An illustrative example of the concept is presented.