In this work, the impact of power exchange on reliability and economic indices of networked microgrids (MGs) is investigated. To this end, new reliability and economic indices are defined. The indices for emergencies in islanded and grid connected modes are evaluated. To increase the accuracy of simulation, a new evaluation method having a unique and precise answer is introduced. To optimize the customer interruption cost (CIC) reduction, the power exchange algorithm based on CIC reduction is presented. In this algorithm, the power exchange between MGs is carried out according to the cost of electricity and the value of the interrupted load. For this purpose, different scenarios of electricity prices are considered. To prove the efficiency of the proposed methods, these methods are tested on the well‐known distribution system bus 2 RBTS. Results reveal that the power exchange between MGs or MGs with grid can considerably affect the reliability and economic indices of MGs.
