Minimum-cost generation-shedding for dynamic Remedial Action Scheme

This paper describes an approach for determining generation-shedding for dynamic Remedial Action Scheme (RAS) based on minimum cost. A generation-shedding cost function is developed based on generator fuel cost, startup/shut down cost, and bid price. The proposed method updates RAS control actions online based on the system operating conditions and cost functions. The Single Machine Equivalent (SIME) method is used to compute stability margins for credible contingencies. The proposed method is applied to a modified IEEE 39-Bus system. Test results demonstrate effectiveness of the proposed minimum-cost generation-shedding method.