Abstract
This paper presents the development of mathematical model representations of variable series capacitors and static phase shifters which are also known as Flexible AC Transmission Systems (FACTS) in power system economic dispatch. The objective of this research is to find the optimal locations of FACTS devices for improved economic dispatch. The proposed approach is based on the decomposition-coordination method and the network compensation technique. Taking advantage of accumulated experience in power system optimization and the existence of the Optimal Power Flow (OPF) software, the software development cost for implementing the proposed algorithm is reduced. In this paper, digital simulation studies on small power systems under different network parameters, with and without FACTS devices, were conducted. The purpose of the simulation studies was to assess the effectiveness of the proposed algorithm in minimizing the operating cost and enhancing the system performance. The results of the simulation studies and the proposed algorithm will be presented and discussed in detail in this paper.
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