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By the introduction of competitive supply, modern electric utilities are forced to operate their systems closer to their security limits. Under such fragile conditions, any disturbance could endanger system security and lead to system collapse. There is, therefore, a need to develop new methods which could evaluate optimal scheduling of operating reserve and forewarn the system operators to take necessary preventive actions in case need arises. An effective method is proposed in this paper to optimally allocate spinning reserve based on a well-being model. The method used in conventional well-being framework for classifying power system comfort zone into healthy and marginal states is initially revised. The optimal value of health index and system spinning reserve requirements are then evaluated on the basis of a trade off between the total cost of spinning reserve and the expected cost of energy not served. The effectiveness of the proposed method is examined using the IEEE-RTS. [ABSTRACT FROM AUTHOR]

Security cost analysis is important in electricity markets to address the correlation between market operation and power system operation. This paper proposes an efficient security cost analysis method and describes its implementation using a three-tier client/server architecture and up-to-date web technologies. The proposed security cost analysis is based on a system security index and its sensitivities with respect to certain system parameters. The web implementation allows easy and effective access by all market participants to make competitive decisions based on the security costs and sensitivity information obtained through the proposed security cost analysis techniques. The web implementation of the proposed method is successfully tested on a six-bus system and a 129-bus system. [ABSTRACT FROM AUTHOR]