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Article: Pricing for system security

TitlePricing for system security
Authors
KeywordsDemand-side management
Sport pricing
Power system security
Real-time pricing
Power system reliability
Issue Date1995
PublisherI E E E. The Journal's web site is located at http://ieeexplore.ieee.org/xpl/RecentIssue.jsp?punumber=59
Citation
Ieee Transactions On Power Systems, 1995, v. 10 n. 2, p. 575-583 How to Cite?
AbstractSecurity in power systems refers to the ability of the system to withstand imminent disturbances (contingencies). Maintaining security is an issue which must be addressed at the system level. It is shown in this paper, however, that it is possible to maintain system security in an operating environment with many participants (power companies, independent power producers, co-generators, consumers) each attempting to optimize their own benefit, through pricing incentives and appropriate information exchange. Rates for power generation/consumption and for an offer to use during a contingency, as well as information on the probability distribution of contingency need for each participant, are derived so that individual optimization will lead to the socially optimal solution in which system security is optimized and the aggregate benefit is maximized.
Persistent Identifierhttp://hdl.handle.net/10722/42727
ISSN
2015 Impact Factor: 3.342
2015 SCImago Journal Rankings: 4.126
ISI Accession Number ID

 

DC FieldValueLanguage
dc.contributor.authorKaye, RJohnen_HK
dc.contributor.authorWu, Felix Fen_HK
dc.contributor.authorVaraiya, Pravinen_HK
dc.date.accessioned2007-03-23T04:30:58Z-
dc.date.available2007-03-23T04:30:58Z-
dc.date.issued1995en_HK
dc.identifier.citationIeee Transactions On Power Systems, 1995, v. 10 n. 2, p. 575-583en_HK
dc.identifier.issn0885-8950en_HK
dc.identifier.urihttp://hdl.handle.net/10722/42727-
dc.description.abstractSecurity in power systems refers to the ability of the system to withstand imminent disturbances (contingencies). Maintaining security is an issue which must be addressed at the system level. It is shown in this paper, however, that it is possible to maintain system security in an operating environment with many participants (power companies, independent power producers, co-generators, consumers) each attempting to optimize their own benefit, through pricing incentives and appropriate information exchange. Rates for power generation/consumption and for an offer to use during a contingency, as well as information on the probability distribution of contingency need for each participant, are derived so that individual optimization will lead to the socially optimal solution in which system security is optimized and the aggregate benefit is maximized.en_HK
dc.format.extent838513 bytes-
dc.format.extent28160 bytes-
dc.format.mimetypeapplication/pdf-
dc.format.mimetypeapplication/msword-
dc.languageengen_HK
dc.publisherI E E E. The Journal's web site is located at http://ieeexplore.ieee.org/xpl/RecentIssue.jsp?punumber=59en_HK
dc.relation.ispartofIEEE Transactions on Power Systemsen_HK
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.rights©1995 IEEE. Personal use of this material is permitted. However, permission to reprint/republish this material for advertising or promotional purposes or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE.en_HK
dc.subjectDemand-side managementen_HK
dc.subjectSport pricingen_HK
dc.subjectPower system securityen_HK
dc.subjectReal-time pricingen_HK
dc.subjectPower system reliabilityen_HK
dc.titlePricing for system securityen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0885-8950&volume=10&issue=2&spage=575&epage=583&date=1995&atitle=Pricing+for+system+securityen_HK
dc.identifier.emailWu, Felix F: ffwu@eee.hku.hken_HK
dc.identifier.authorityWu, Felix F=rp00194en_HK
dc.description.naturepublished_or_final_versionen_HK
dc.identifier.doi10.1109/59.387891en_HK
dc.identifier.scopuseid_2-s2.0-0029307336en_HK
dc.identifier.hkuros15312-
dc.identifier.volume10en_HK
dc.identifier.issue2en_HK
dc.identifier.spage575en_HK
dc.identifier.epage583en_HK
dc.identifier.isiWOS:A1995RB28900003-
dc.publisher.placeUnited Statesen_HK
dc.identifier.scopusauthoridKaye, RJohn=7101600224en_HK
dc.identifier.scopusauthoridWu, Felix F=7403465107en_HK
dc.identifier.scopusauthoridVaraiya, Pravin=7005905293en_HK

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