Web-based security cost analysis in electricity markets

Summary form only given. Security cost analysis is important in electricity markets to address the correlation between market operation and power system operation. This paper proposes an efficient security cost analysis method, and describes its implementation using a 3-tier client/server architecture and up-to-date Web technologies. The proposed security cost analysis is based on a system secure index and its sensitivities with respect to certain system parameters. The Web implementation allows easy and effective access by all market participants to make competitive decisions based on the security costs and sensitivity information obtained through the proposed security cost analysis techniques. The Web implementation of the proposed method is successfully tested on a 6-bus system and a 129-bus system.