Title :
Risk-Based Security and Economy Tradeoff Analysis for Real-Time Operation
Author :
Xiao, Fei ; McCalley, James D.
Author_Institution :
Iowa State Univ., Ames
Abstract :
This letter describes a new perspective on balancing system security level with cost for real-time operation. Security level is quantified using risk, which provides that security may be optimized. A risk-based multiple-objective (RBMO) model, considering security and economy together, is compared with the traditional security-constrained OPF (SCOPF) model. A six-bus test system is used to show the merits of RBMO.
Keywords :
load flow; power system security; real-time systems; risk analysis; SCOPF model; balancing system security; economy tradeoff analysis; optimal power flow; real time operation; risk based multiple objective model; risk based security; security level; six bus test system; Circuits; Constraint optimization; Load flow; Power generation; Power system modeling; Power system security; Probability; Risk analysis; System testing; Voltage; Decision making; economy; multiobjective optimization; optimal power flow; reliability; risk; security;
Journal_Title :
Power Systems, IEEE Transactions on
DOI :
10.1109/TPWRS.2007.907591
