LMP technique for locating series FACTS device (TCSC) for social welfare benefits in deregulated electricity market

Abstract

In this paper, for deregulated market, to have maximum social and economic benefits along with reduction of congestion, a new technique named LMP technique has been suggested for the location of series FACTS (Flexible AC Transmission System) devices i.e. TCSC (Thyristor Controlled Series Capacitor). The model which has been used in this paper is based on power injection method and the proposed techniques are based on the LMP (Locational Marginal Prices) differences and subsequently congestion rent, respectively. LMP technique is used for optimal locating and sizing of TCSC. The reason to use this technique is that it minimizes the computational expenses and maximizes social welfare. Congestion rent is a product of LMP difference and power flows in that specific line. When comparison is made to sensitivity factor based method, the proposed methods for its solution form a priority list that reduces the computational solution space. The linearity aspect cannot be judged by sensitivity factor method the marginal price differences in situations constrained by limits helps in forming zonal boundaries, and we can represent the price in zone using average locational marginal price (ALMP). Simulations are performed to find the effect of TCSC on congestion levels of the IEEE 14-bus test systems using PSAT (Power system analysis tool).