Abstract
The power system loading margin enhancement problem to determine an optimal Static Synchronous Compensator (STATCOM) installation can be formulated as a mixed discrete-continuous nonlinear optimization problem (MDCP). In the paper, long-term efficiency of STATCOM installation to enhance transmission system loading margin (LM) is evaluated using a Monte Carlo Simulation (MCS) procedure with an Ordinal Optimization (OO) based STATCOM installation strategy to solve the MDCP. First under each N-1 contingency with bigger risk index (RI) value, the crude model is used to estimate the rough solution for each candidate, and then the exact method is used to a smaller set to determine the good enough solutions. Obtained from the union of the respective good enough solutions for all considered contingencies, the scheme with the smallest number of STATCOM units enabling the network to provide required average LM is recommended.
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