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A performance-based markov modeling for reliability evaluation of competitive electricity markets

Ehsani, A ; Sharif University of Technology | 2008

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  1. Type of Document: Article
  2. Publisher: 2008
  3. Abstract:
  4. In the new deregulated environment of electric power utility industry, new system reliability criteria and analytical tools are required. This paper proposes an analytical probabilistic model for reliability evaluation of competitive electricity markets. The market reliability is evaluated by using Markov state space diagram. Since the market is a continuously operated system, the concept of absorbing states is applied to it in order to evaluate the reliability. The market states are identified by using market performance indices and the transition rates are calculated by using historical data. To illustrate interesting feature of the proposed methodology, a case study is carried out over a test system
  5. Keywords:
  6. Absorbing state ; Analytical tools ; And performance indices ; Competitive electricity markets ; Deregulated environments ; Electric power utilities ; Historical datum ; Market performance ; Markov modeling ; Markov state ; New systems ; Operated systems ; Probabilistic models ; Reliability evaluations ; Test systems ; Transition rates ; Deregulation ; Electric power systems ; Electric tools ; Marketing ; Potential energy ; Potential energy surfaces ; Reliability
  7. Source: Proceedings of the 10th IASTED International Conference on Power and Energy Systems, PES 2008, 16 April 2008 through 18 April 2008, Baltimore, MD ; 2008 , Pages 215-220 ; 9780889867383 (ISBN)
  8. URL: https://www.actapress.com/Abstract.aspx?paperId=33208