Value-based reliability for short term operational planning

The paper presents a scheme for evaluating and optimally enhancing power system reliability for a short-time horizon operation of one week. Power system reliability can be efficiently enhanced by applying appropriate remedial actions (RAs). This paper investigates the impact of remedial actions on system reliability, the corresponding associated cost and the amount of unserved energy using the EPRI Transmission Reliability Evaluation for Large Scale System (TRELSS) program. The proposed scheme has been tested on a 27-bus example taken from the Northwest (NW) system. The method has the potential to be used for assessing the risks associated with near-term scheduled outages and other operational issues.