The Value of Reliability in Power Systems - Quiz

Quiz Question

1. __________ is the probability of a device or system performing its function adequately, for the period of time intended, under the operating conditions intended.
Life span
2. Which of the following is a typical reliability indices used in power systems evaluation?
Load interruption indices
Loss of load probability
Frequency and duration indices
All of the above
3. The installed capacity reserve relates to the long-term ability of the system to meet the expected demand requirements while the operating reserve relates to the short-term ability to meet a given load.
4. A _________ outage is an outage that results from emergency conditions, requiring that the component be taken out of service immediately.
5. In the following equation what does ‘ λ’ represent?
The Value of Reliability in Power Systems 1
unit repair rate
unit failure rate
mean time to failure
mean time to repair
6. In the following figure what does R* stand for?
The Value of Reliability in Power Systems 2
Reliability standard
Reliability median
Reliability level
Reliability cost
7. Market allocation is economically efficient and allows decentralized decision making and fosters individual choice.
8. The _________ are investments in plant and equipment to provide physical infrastructure, industrial facilities, generation hardware and plant auxiliary services.
Fuel costs
Capital costs
Operation costs
Maintenance costs
9. The process called__________, helps to limit shortage costs by protecting the integrity of the system and especially by decreasing the number of customers who would suffer interruptions of supply.
Load sharing
Load accumulation
Load shedding
None of the above
10. In practice, there are no insurance markets for power outages.
11. The CDF (customer damage function) displays outage costs expressed in kilowatts of annual peak demand i.e._______ for different customer categories and interruption durations.
No units
12. A call option contract in financial markets gives its holder the right to buy an underlying asset (e.g. stock) for a specified price, called the strike price, on or before the maturity of the contract.
13. All the economic costs suffered by consumers when electricity is not available are known as __________.
Outage costs
Surplus costs
Load costs
Maintenance costs
14. In the following equation what does ‘C j ’ represent?
The Value of Reliability in Power Systems 3
Current probability of the j-th level
Available capacity of the j-th level
Constant at j-th level
None of the above
15. PX -_______ , A market place for the trading of electric energy and other power-related services.
Power trading
Power Exchange
Power stock
Power services