Condition based Maintenance Optimization for the Hydro Generating Unit with Dynamic Economic Dependence

This paper considers a condition-based maintenance (i.e.CBM) model for the hydro generating unit in the deregulated power system.As the downtime cost of the generating unit varies according to the time-varying electricity price, the economic dependence among the critical component of the generating unit is dynamic.In this paper, the proposed Dynamic-Economic-Dependence and proportional hazards model based CBM policy considers the dynamic economic dependence among components as well as the reliability and the monitoring information of different critical components.An example for the hydro generating unit is presented to verify the effectiveness of the proposed condition based maintenance policy.