New tools for power system dynamic performance management

The application of market based approaches to power systems has, in general, resulted in the reduction of stability margins as profit maximization can lead to systems being operated in stressed conditions. As systems are operated closer to their limits, it is critical that the system is modeled appropriately and that control actions take into account stability margins. This paper reviews three recent tools for power system dynamic performance; first a probabilistic optimal power flow (P-OPF), which is used to incorporate uncertainty in system modeling; second, complementarity modeling is reviewed, as this approach allows for more appropriate modeling of how the system moves from stable equilibrium to unstable or loss of equilibrium. Finally, the normal boundary intersection method is presented. This method allows one to form the Pareto surface efficiently when considering a multi-objective optimization problem, such as a stability constrained optimal power flow