Optimization of Sequential Electricity Market Economics using UPFC in Deregulated Power System

Varaprasad Janamala*, K. Chandra Sekhar**
* Assistant Professor, Department of Electrical and Electronics Engineering, Christ University Faculty of Engineering, Bangalore, India.
** Professor and Head, Department of Electrical and Electronics Engineering, R.V.R. & J.C. College of Engineering, Andhra Pradesh, India.
Periodicity:May - July'2016
DOI : https://doi.org/10.26634/jps.4.2.8132

Abstract

In a competitive market environment, the provision of strategic bidding to the market participants and its consequences open up new challenging tasks to the system operator. The market economic efficiency is mainly dependent on transmission system support. The inability of transmission system support to drive market cleared schedule is known as congestion which is not desirable. At first stage, Differential Evolution (DE) technique is applied to optimize unconstrained market schedules for active power demand. In the second stage, Time-Varying Acceleration Coefficients-Particle Swarm Optimization (TVAC-PSO) algorithm is applied to minimize reactive power cost by optimizing the Unified Power Flow Controller (UPFC) parameters and voltage profile of the network simultaneously. Due to this approach, the congestion cost with redispatch and more reactive power cost payment to the market participants have been avoided. In addition to this, the system maximum loadability has been reduced. The analysis is carried out on IEEE 14-bus and IEEE 30-bus test systems and the results shown the validity of the proposed work in real-time.

Keywords

Competitive Electricity Market, Congestion, DE, Loadability, TVAC-PSO, UPFC

How to Cite this Article?

Janamala, V., and Sekhar, K. C. (2016). Optimization of Sequential Electricity Market Economics using UPFC in Deregulated Power System. i-manager’s Journal on Power Systems Engineering, 4(2), 26-37. https://doi.org/10.26634/jps.4.2.8132

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