This paper presents a flexible object-oriented computational model for composite systems reliability evaluation based on Sequential and Non-Sequential Monte Carlo Simulation. The main focus of the model is in the representation of time varying components, such as the wind generation and the load. The modeling flexibility enables the representation of complex network components and the comparison of indices obtained by both sequential and non-sequential approaches. The results obtained with studies based on the IEEE RTS system demonstrate the applicability of the developed model and provide important conclusions about wind generation influence on power system reliability indices.
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