Optimal reserve model with risk and emergency power control constraint

In this paper, a new reserve model based on risk of the power system is proposed to considering both the reliability and the economy. In the meantime, the emergency DC power control are considered in this model. In the reserve model, the operating reserve are classified into load reserve and contingency reserve. The objective is to minimize the energy and reserve cost. Apart from system wide reserve requirements in the previous optimization model, constraints include emergency DC power support and contingency reserve requirements reflecting by risk. This model taking the reliability and the economy into account is insightful to guide the future development of reserve schedule for power system.