An Active Power Spot Price based approach for congestion management by optimal allocation of tcsc in competitive power market

摘要

Congestion management is one of the most significant issues for secure and reliable system operations in a deregulated electricity market. This paper presents an effective approach for optimal allocation and optimal sizing of Thyristor Controlled Series Compensator (TCSC) to reduce the congestion in day-ahead power market. The proposed optimization approach is based on a factor called `Active Power Spot Price Index' (APSPI) which reduces the solution space effectively and helps to determine the best location of TCSC in the system. Additionally, Locational Marginal Pricing (LMP) has also been demonstrated in this work considering the best chosen location of TCSC. The proposed approach is carried out on modified IEEE 14-bus and IEEE 118-bus systems to test and validate the results.