Abstract
Abstract Many electrical power systems are changing from a vertically integrated entity to a deregulated, open-market environment. This paper proposes an approach to optimally allocate multi-type flexible AC transmission system (FACTS) devices in restructured power systems with wind generation. The objective of the approach is to maximize the present value of long-term profit. Many factors like load variation, wind generation variation, generator capacity limit, line flow limit, voltage regulation, dispatchable load limits, generation rescheduling cost, load shedding cost, and multilateral power contracts are considered in problem formulation. The proposed method accurately evaluates the annual costs and benefits obtainable by FACTS devices in formulating the large-scale optimization problem under both normal condition and possible contingencies. The overall problem is solved using both Particle Swarm Optimization (PSO) for attaining optimal FACTS devices allocation as main problem and optimal power flow as sub optimization problem. The efficacy of the proposed approach is demonstrated for modified IEEE 14-bus test system and IEEE 118-bus test system.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: International Journal of Electrical Power & Energy Systems
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
