Premium Power Value Evaluation Method Based on Prospect Theory

Power quality disturbance events such as voltage sag have brought huge economic losses to customers. After taking into full consideration the demands of customers, this article sets up premium power value evaluation system based on utility theory in 5 aspects which include reliability value, safety value, economic value, functional and potential value. Then the article analyzes the sensibility when suffering losses from decisionmaking behavior, and the prospect theory is applied to quantify the value of premium power customers used. Finally, a case study of typical customers in a premium power park proves the correctness and rationality of the proposed method.