Power system economic loading with flexible emergency reserve provision

Economic loading of medium-sized isolated power systems is considered. Such systems are often characterised by taxing emergency reserve requirements. It is shown how the relevant criteria may be met in a flexible manner through consideration of the cost of any load shedding resulting from possible generation outages. Results are presented which demonstrate that operational savings may be achieved through use of the proposed approach, and that the schedules obtained exhibit less volatility of generator power outputs than is the case when rigid emergency reserve criteria are employed