Abstract
This article proposes a new multi-objective non-linear optimization problem for secure bilateral transaction determination using AC distribution factors for pool and bilateral coordinated markets. The new multi-objective optimization problem considers minimization of deviations from scheduled transactions and real power losses in the network. The bilateral transaction matrix and generation pattern has been determined in the presence of optimally located unified power-flow controller. The results have also been compared with the secure bilateral transaction determination, minimizing only deviations from the proposed transactions. The proposed technique has been applied on an IEEE 24-bus reliability test system.
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