Research of Incentive Revelation Mechanism in Power System Optimal Security Control

In competing electric power markets, participants (including generator and consumer companies) compete with each other, so they may not be willing to share their information needed to perform an optimal security control. Based on practical dynamic security region (PDSR) and by using mechanism design in game theory, an incentive compatible operation mechanism of power system security control is suggested that achieves efficiency in spite of this information problem. In this mechanism, when each participant acts in the best of its own interest, the security control is efficient. The rationality and effectiveness of this mechanism is demonstrated by taking the 10-generator-39-buses New England System as the illustrative system.