NDLI: The economic evaluation of system security criterion selection in the market environment

Content Provider	IEEE Xplore Digital Library
Author	Güler, T. Gross, G.
Copyright Year	2010
Description	Author affiliation: Department of Electrical and Computer Engineering, University of Illinois at Urbana -Champaign, 61801 USA (Gross, G.) \|\| PSEG Energy Resources and Trade, Newark, NJ 07302, USA (Güler, T.)
Abstract	The maintenance of secure system operations is a highly challenging task that becomes even more complex as electricity markets gain prominence. We use insights into the tight coupling between market and system operations under restructuring to characterize analytically the interrelationships between the secure power system operations and the performance of the electricity markets. Such a characterization allows the development of an integrated analytic approach to quantify the economics of secure power system operations. The new approach permits the quantification of the market performance as a function of security criterion selection and provides, for the first time, the means to give an economic justification for a modification in the security criterion. Furthermore, the approach is useful in the cost/benefit assessment of network improvements aimed at mitigating the market performance impacts of a set of contingencies and their associated security control actions. We illustrate the application of the proposed approaches on the large-scale ISO New England system in a number of studies. The results provide useful insights into the multi-faceted nature of issues that arise in today's tightly coupled market and system operations. In fact, the studies on the economics of system security provide important insights into the role of price-responsive demand and that of specific selected security control actions measured by the economic efficiency of the electricity markets. A key finding is that this efficiency need not decrease when a power system is operated under a stricter criterion, as long as there is effective price-responsive demand and appropriate utilization of the corrective control capabilities of the resources.
Starting Page	1
Ending Page	8
File Size	540625
Page Count	8
File Format	PDF
ISBN	9781424465491
ISSN	19449925
e-ISBN	9781424465514
e-ISBN	9781424483570
DOI	10.1109/PES.2010.5589301
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2010-07-25
Publisher Place	USA
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Security Economics Electricity supply industry Power systems Interconnected systems Particle measurements
Content Type	Text
Resource Type	Article

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

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