Study on Influences of China's Electricity Market Reform over Safety and Reliability of the Power System

As electricity market reform is being conducted, the marketized operation mode and stability and safety of the power system have mutually influenced. The reform has proposed much greater requirements for the short-term load flow forecast. Power companies reduce the safety margin in order to keep down their costs under the marketing pressure. The relay protection devices become more complex reducing its reliability due to the introduction of the electricity market. The power system is now facing severe challenge, but as long as market participants proactively maintain safety and reliability of the system, the electricity market reform may smoothly advance.