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Cost-Related Reliability Evaluation of Interconnected Bulk Power Systems Using An Equivalent Approach

This paper presents a technique to calculate cost-related reliability indices of a composite power system at the load points and for the overall system. An adequacy equivalent approach is utilized to effectively reduce the required computation times for interconnected composite system analysis. The cost-related reliability indices are calculated in the form of both annualized and annual values. System studies conducted on two interconnected reliability test systems are presented which provide insight into the values of the indices in different situations. The cost reliability indices are important factors in determination of the optimal reliability level at which the reliability investment achieves the best results to reduce the customer damage costs due to power supply interruptions.