Reliability assessment of a restructured power system using reliability network equivalent techniques

Power system deregulation has introduced some fundamental problems regarding system reliability management. This paper presents a technique used for the reliability evaluation of restructured power systems. A reliability model for each market player in a restructured power system is introduced in which a generation company is represented by an equivalent multistate generation provider and the transmission system is represented by an equivalent multistate transmission provider using reliability network equivalent techniques. Demand-side reliability is considered in the analysis. The concept of nonuniform reliability is presented and customer choices regarding reliability can easily be implemented using the new technique. A test deregulated power system is used to illustrate the application of the technique.