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Transmission pricing is an important issue in view of increased deregulation. A nonlinear optimization problem has been formulated to maximize the social welfare in the open power market using a unified power flow controller (UPFC). With a static point of view, congestion management installation of UPFC requires a two-step approach. First, the proper location of these devices in the network must be ascertained and then the settings of its control parameters optimized for the required objective. Nodal spot prices for both real and reactive powers have been computed using optimal power flow solutions, and the impact of UPFC on the spot pricing has been studied. This design is based on a novel methodology to locate the UPFC for congestion management in the deregulated power sector and presents a nonlinear optimization problem formulation with UPFC to see the impact on transmission real and reactive spot pricing. The design is tested in IEEE 30-bus system using Matlab 2015b version.
Reference Paper: Impact on Real and Reactive Power Pricing in Open Power Market Using Unified Power Flow Controller
Author’s Name: K. S. Verma and H. O. Gupta
Source: IEEE
Year: 2006
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