Comparison of alternative methods for evaluating loss of load costs in generation and transmission systems

This paper presents a comparison among different methods to evaluate the lo ss of load cost (LOLC) index for composite generation and transmission syst ems. A new methodology is proposed and used as a reference to evaluate LOLC indices. It considers all blocks of unsupplied energy per consumer class, per bus, and the respective duration, to characterize accurately the interr uption process. The proposed methodology is implemented with two composite reliability evaluation algorithms based on Monte Carlo simulation: sequenti al and pseudo-sequential. Also two load curtailment policies, minimum load curtailment and minimum cost, are considered and their impact on the differ ent LOLC evaluation methods assessed. Case studies with the IEEE-MRTS (modi fied reliability test system) are presented and discussed. (C) 1999 Elsevie r Science S.A. All rights reserved.