Probabilistic Total Ownership Cost of Power Transformers Serving Large-Scale Wind Plants in Liberalized Electricity Markets

This paper defines a probabilistic, life-cycle loss evaluation method to evaluate the total ownership cost of power transformers that are obliged to exclusively serve large wind plants. The method that is introduced responds to the ongoing efforts of developing risk and cost-based decision-making processes in today's competitive and dynamic energy markets. Therefore, capitalizing the losses and, consequently, the ownership cost of transformers, serving intermittent wind energy sources, entails a probabilistic approach that integrates the financial and technical characteristics as well as the uncertainties of wind energy generation.