Generation Reliability Assessment in Oligopoly Power Market Using Monte Carlo Simulation

H. Haroonabadi and M.-R. Haghifam (Iran)

Keywords

Marketing Power generation reliability Monte Carlo Simulation.

Abstract

Deregulation policy has caused some changes in the concepts of power systems reliability assessment and enhancement. In this paper, generation reliability is considered, and a method for its assessment in the oligopoly market based on Cournot–Nash model is proposed. Monte Carlo simulation is used for reliability evaluation. Generation reliability, merely focuses on interaction between generation complex and load. Therefore, this paper using oligopoly market economic subjects in Cournot–Nash model, deals with offer curve of power plants and demand curve. Then from intersection of these curves and regarding to other parameters, reliability index is determined. The proposed method is assessed on IEEE-Reliability Test System with satisfactory results. In all cases, generation reliability indices are evaluated with different reserve margins and various load levels.

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