Assessment of restructured power systems security using Contingency Sensitivity Index

Restructuring of power systems has introduced new alphabet to power industry. Combining the technical and economical parameters in restructured power system has opened the new horizon in power systems study. Traditionally, one of the most important aspects of power systems study is security. In this paper, the new index named Contingency Sensitivity Index (CSI) has been developed to show the severity of the restructured power system conditions with different energy prices in different locations according to the contingencies which happens in power systems. The basic of CSI calculation is totally related to Locational Marginal Price (LMP) changes. This index has been compared by different Vulnerability Indexes and has shown its efficiency. CSI can be used in generation/transmission expansion planning, coordination between market manager and system operator, and improving the operation of the power system.