Optimal Locating and Sizing of TCSC for Social Welfare Maximization in Deregulated Power Markets

摘要

The restructuring in electric power industries from the last two decades was introduced with privatization in their sectors to improve their efficiency. However, as the deregulation progresses among power utilities, the utility operators face new problems and challenges [1]. Moreover, the provision of bilateral transaction, that allows GENCO and DISCO pairs to negotiate power transactions, has lead to uncertainty in the amount and direction of power flows. Evidently, the overall consequence of this issue is the congestion in transmission network. The issue of transmission congestion is more pronounced in deregulated and competitive markets and it needs a special treatment [1]. In this environment, independent system operator (ISO) has to maximize social welfare and relieve the congestion, so that the system is maintained in secure state.