CSCUS

Power systems worldwide are increasingly experiencing the simultaneous failure of multiple components due to severe weather conditions, which are becoming more frequentand intense. Consequently, growing interest in more stringent security standards has been triggered. Indeed, electricity markets are moving toward explicitly including generator outages within auction models seeking the most economical and reliable generation scheduling and dispatch. Within this context, a novel unit commitment model is developed to address the need for tighter security standards, such as the N-k security criterion. As a major distinctive feature, the proposed formulation jointly considers multiple out-of-service generators and lines, corrective actions, and transmission losses. Moreover, unlike previous works, shift factors are used to represent the effect of the lossy transmission network while accurately characterizing transmission losses by a binary-variable-based piecewise linear approximation. Additionally, line outages are incorporated by  modeling fictitious active power injections.