Cost of security in power system transmission

Abstract

This paper presents the cost of security in power system transmission sector. The implementation is done by doing the analysis of the security action available. The cost comparison between the security actions could be seen by doing the simulation using MATLAB (MATPOWER). Security cost analysis is important in electricity markets to address the correlation between market operation and power system operation. Moreover, by doing this analysis, it will help utilities to provide the suitable and best action taken for certain contingencies. This will improve the operation and transmission of the electricity to consumers. Consumers also will get benefits from the good service by paying less of electricity. This paper also can be used as a reference to utility so that one day Malaysia could have its own Voltage of Lost Load (VoLL). The analysis could be used as a solution for short and long term period. For example, if one area having electric breakdown frequently, therefore a solution to make sure the cost of security action taken is reasonable and compatible at that time as well as in future consequences.