Cost related reliability evaluation of bulk power systems

Economics plays a major role in the application of reliability concepts and the attainment of an acceptable level of reliability. Inadequate reliabili ty of electric power supply ultimately costs the customers much more than g ood reliability. It is therefore important to determine the optimal reliabi lity level at which the reliability investment achieves the best results in reducing the customer damage costs due to power supply interruptions. This paper presents a technique to calculate cost related reliability indices o f a composite system at the load points and for the overall system. These c ost related reliability indices are calculated in the form of both annualiz ed and annual values. System studies conducted on two reliability test syst ems are presented, which provide insight into the variation of the indices with different system factors. (C) 2000 Elsevier Science Ltd. All rights re served.