Investigation of Power System Security and Availability

In liberalized electricity markets all players are driven to minimize costs respectively optimize profit considering public tasks to guarantee a safe, reliable and cost efficient supply with electricity. In 2003, worldwide major blackouts happened during a relatively short time frame putting electricity supply from a perception as "commodity" into a "high quality product" picture with huge influence on economies. In addition, it is known that power plants as well as power system equipments have become aged since most of them have been installed during the 1960s and '70s. Many questions about any correlation between deregulated electricity markets, the blackouts and the aged power system infrastructure have been asked. This report will try to give some answers to typical questions about correlations, future trends on availability and actions needed.