Reactive Power Pricing in Restructured Power Systems

Abstract

newline The research work is focused on optimal reactive power dispatch scheduling, optimal reactive power pricing with the objectives of active power transmission loss minimization, bus voltage deviation minimization and L-index minimization. Reactive Power Market model is developed based on uniform price auction mechanism which competitively determines four components of reactive power uniform market clearing prices for whole power system. It is also compared with pay as bid mechanism.The Grey Wolf Optimization (GWO) method is applied to solve the optimal reactive power dispatch problem. A more improved optimization algorithm called Hybrid Grey Wolf Optimization (HGWO) is also proposed for fast convergence.The concept is demonstrated on IEEE 30 and 118 bus test systems. newline