Risk based optimal strategy to split commercial components of Available Transfer Capability by particle swarm optimization method

Available transfer capability (ATC) is important public information for transaction participants in the deregulated power industry. Transmission providers may use ATC to make the best utilization without comprising system security. With considering various contingencies, ATC can be utilized as the sum of commercial components, such as the non- recallable (or firm) transmission service capacity and the recallable (or interruptible) transmission service capacity. The object of this paper is to build a model for determining the optimal transmission service capacity to maximizing transmission revenue and to propose an optimal strategy to split non-recallable and recallable transmission service capacity with considering possible failures risk of power system operation. The particle swarm optimization (PSO) algorithm is introduced to reduce the computing time of settling the model. The numerical results for the IEEE-RTS system are presented to demonstrate the effectiveness of the proposed models and solution techniques.