A Contingency-Based Security-Constrained Optimal Power Flow Model For Revealing The Marginal Cost of a Blackout Risk-Equalizing Policy in the Colombian Electricity Market

This paper presents a new methodology to solve the dispatch problem in the Colombian electricity market. The proposed methodology is based on the use of coupled postcontingency Optimal Power Flows with additional linear constraints to include reliability criteria. The main contribution of this paper is the solution of the Colombian dispatch problem in one stage, which provides actual nodal prices and reveals the marginal price of a blackout-risk equalizing policy in the Colombian electricity market.