Abstract
In this paper, a novel approach to incorporate voltage source converter-based embedded HVDC for improving power system economic dispatch efficiency is proposed. An analytical formulation is presented to quantify the economic benefits of embedded HVDC by modeling its flow control as an injection-extraction pair in the economic dispatch of the transmission grid. A computationally efficient algorithm is proposed to rank the potential locations of such embedded HVDC. The algorithm is based on expected economic dispatch cost reduction weighted by the historical line shadow prices. The use of a distribution of historical data as a means of weighting also allows for incorporation of diurnal and seasonal influences on congestion patterns. Numerical case studies using the proposed method of locating the embedded HVDC suggest promising results in choosing the location of improved flow control devices.
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