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Relibaility, Cost and Risk ...

... issues that today's transmission providers, operators, planners, designers, users and regulators must address. Reliability is the measure of the network's ability to transfer power from point/s of delivery to point/s of receipt. This could be a system-wide figure such as system minutes, or the impact and probability of occurrence of the worst single contingency. Or it could be customer-specific, such as the expected unserved energy for an industrial plant. For the most part, reliability is measured technically and does not become real or tangible until the impact cost of unreliability is determined. Hence, Cost is an important issue. What is the damage cost of unserved energy? What is the cost of overloads and voltage criteria violations? Finally, there is clear a tradeoff between improving reliability and minimizing costs. So Risk is an issue, as one weighs between reinforcing the system or accepting an existing level of unreliability. Risk is an important aspect of the decision-making process for transmission systems. It becomes even more important as industry structures move to deregulated generation markets.

Reliability is …

… a network’s ability to deliver power from generation to load within the operating limits of equipment, and without loss of continuity of supply or widespread failure. To users and customers of transmission networks, reliability is an expectation of service; for example, that light will come forth when the switch is flicked. Providing this service is very much like attempting to steady a boat in bouncy seas --- boundary conditions keep changing: loads increase and diminish, generators go on and off line, equipment fail or require maintenance ... now and then a storm happens by.

The most common method of providing for reliability is the so-called (n-1) criterion. The criterion says that a system is sufficiently reliable if it is able to operate acceptably under any unplanned outage of equipment due to a single cause.

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