Influence of TCSC on social welfare and spot price - a comparative study of PSO with classical method

International Journal of Engineering, Science and Technology 09/2010; DOI: 10.4314/ijest.v2i3.59175
Source: DOAJ

ABSTRACT In this paper, Particle Swarm Optimization (PSO) based algorithm has been suggested to find optimal location and setting of Thyristor Controlled Series Compensator (TCSC) to maximize Social Benefit (SB), considering its installation cost in competitive electricity market. PSO has simultaneously optimized generators’ active powers output, generators’ bus voltages, TCSC reactance and its location. In addition, the influence of optimally located TCSC on the magnitude of real power spot price, reactive power spot price, wheeling charges and bilateral transaction matrix has been investigated. The effectiveness of the proposed approach has been tested on IEEE 6 bus system and results obtained are compared with those obtained from various classical methods.

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    ABSTRACT: Various FACTS devices in equivalent circuits of electric power network elements may be represented by series or parallel controlled reactances. The solution for competitive electricity market optimization depends on parameters of electric power network, and control of such parameters provides an opportunity to control prices for electricity. This research offers a function of locational marginal prices (LMP) dependence on power network parameters, which represents a set of fractional-polynomial functions. It may be used for different purposes: search for optimal arrangement of FACTS devices, maximization of market welfare function and easy calculation of FACTS devices installation efficiency. The offered approach is tested on TCSC (Thyristor Controlled Series Capacitor) devices.
    2014 11th International Conference on the European Energy Market (EEM); 05/2014

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