Incorporating new power system security paradigms into low-carbon electricity markets

Abstract

Australian Electricity Markets are integrating variable renewable energy sources at rates faster than anywhere in the world. South Australia and Western Australia, in particular, are at the world's forefront of the consequential new challenges in maintaining a secure electricity grid. These emerge primarily with respect to frequency and voltage instability, converter interoperability, and variability and forecasting issues. As a result, operating strategies that worked well in energy markets dominated by conventional generators must be transformed to take into account the physical characteristics and probabilistic capabilities of emerging energy conversion processes. In turn, these approache..