Reliability worth Analysis of a Modern Power System
Authors: Akrit Acharya, Alish Bista, Krishna Raj Majhi, Aman Nath Mandal

Abstract—Power system should have adequate reliability to ensure the demand is always being met. When the reliability is lower, outages of few generating units in the system could interrupt the customers’ access to electricity causing them to incur heavy losses. When the reliability is higher, outages of several generating units might not necessarily affect customers’ access to electricity. With higher degree of reliability, the customer interruption cost gets reduced, in turn investment cost increases. This paper presents a technique for evaluation of the optimum point of reliability for a given sample system. Monte Carlo simulations are carried out to replicate the uncertainties of an actual power system. Different reliability indices like EENS, IEAR and ECOST are calculated to help quantify various properties of the power system. The customer interruption costs and investment costs, the sum of these two costs (i.e. societal cost) is plotted against increasing capacity of the system (towards higher reliability). The point where the total societal cost is minimum, is the point of optimum reliability.

Keywords—Power System Reliability, Reliability Worth Analysis, Monte Carlo Simulation, Optimum Reliability, Societal Cost

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Published In: International Conference on Role of Energy for Sustainable Social Development in ‘New Normal’ Era (RESSD-2020)
Date of Conference: 28th-29th December 2020                                
Conference Location: Kathmandu, Nepal
Publisher: IEEE Power and Energy Society Nepal Chapter

Cite the paper as:
A. Acharya, A. Bista, K. R. Majhi, A. N. Mandal, “Reliability worth Analysis of a Modern Power System”, International Conference on Role of Energy for Sustainable Social Development in ‘New Normal’ Era, 28th-29th December 2020, Kathmandu, Nepal