The supply of growing electricity demand is possible through continuous technological advances and the expansion of national and international electrical systems. This scenario could introduce voltage drops and consequent changes in the reactive power flow throughout the electrical network. In order to control these problems, various strategies have been developed as a solution to improve the transport and distribution of electrical energy. One of them is the Flexible Alternating Current Transmission System (FACTS), and more specifically the STATic synchronous COMpensator (STATCOM). This paper investigates the influence and effectiveness of STATCOM to mitigate the losses in the transmission lines and its impacts on bus voltage drops. The simulations are performed using the software DIgSILENT PowerFactory and the results showed that STATCOM reduces the power system losses in an interval of 23.86% until 32.86%, and in addition, the STATCOM decreases the annual energy cost by 7.82% in the implemented test case.