Annual procurement of reactive power capacity considering outage of VAR sources in an electricity market environment

Fuqiang Zhang, Fushuan Wen, H. W. Ngan, C. W. Yu, C. Y. Chung, K. P. Wong

Research output: Journal article publicationJournal articleAcademic researchpeer-review

Abstract

Appropriate determination of reactive power requirements is an important issue for maintaining voltage stability, decreasing transmission losses, and mitigating the potential exercise of reactive market power. A model is developed for annual procurement of reactive power capacity considering the possible outage of multiple VAR sources in an electricity market environment. The objective is to minimize the total cost, including the cost of purchasing reactive power capacity, load shedding and generation redispatch. A method based on the Monte-Carlo simulation and differential evolution algorithm is used for solving the established optimization problem. Simulation results from case studies demonstrate the essential features of the developed model and the solution method. This work is jointly supported by Special Fund of the National Basic Research Program of China (No. 2004CB217905) and National Natural Science Foundation of China (No. 70673023).

Original languageEnglish
Pages (from-to)44-49
Number of pages6
JournalDianli Xitong Zidonghua/Automation of Electric Power Systems
Volume33
Issue number16
Publication statusPublished - 25 Aug 2009

Keywords

  • Capacity procurement
  • Differential evolution algorithm
  • Electricity market
  • Monte-Carlo simulation
  • Outage
  • Reactive power

ASJC Scopus subject areas

  • Control and Systems Engineering
  • Energy Engineering and Power Technology
  • Computer Science Applications
  • Electrical and Electronic Engineering

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