Optimal market settlements incorporating voltage stability considerations and FACTS devices

Examensarbete för masterexamen

Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.12380/174142
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Type: Examensarbete för masterexamen
Master Thesis
Title: Optimal market settlements incorporating voltage stability considerations and FACTS devices
Authors: Prieto, Raúl Bachiller
Abstract: In the past decade, many power utilities world-wide have been forced to change their ways of doing business, from vertically integrated functioning to open-market systems. The reasons have been many, and differed, across regions and countries. Reforms were undertaken by introducing commercial incentives in generation, transmission and distribution of electricity, with in many cases, large efficiency gains. Though this may seem fairly straightforward at first glance, there are several complexities involved in restructuring and several new issues have surfaced. Recent large-scale power system blackouts in the USA and Europe have given us a “wake-up” call on the vulnerability of our power systems that they are being operated much closer to the limits than ever before. This study aims at investigating the changes in power market transaction levels when taking into account the voltage stability consideration and FACTS devices in the market settlement scheme. The study is based on a security constrained optimal power flow (SCOPF) framework for a combined bilateral-and-pool electricity market. An IEEE 30-bus test system is used in the study in which four separate cases are analyzed, i.e., a base case, a base case with security margin and these two cases with FACTS devices included. It is found that the voltage security constraints could help independent market operators (IMO) to include a sufficient margin for allowable power transactions to ensure the system security while maximizing the social welfare. It is also shown in the study that the use of FACTS devices (e.g., TCSC) can lead to an increase of up to 107% in available load capacity (ALC) for the same total transaction level (TTL) and an increase in TTL by up to about 3.5% when keeping the security loading factor of the system constant. Furthermore, the payment to the IMO is decreased by 4% due to congestion relief effects of FACTS. It can be concluded that power systems will be operating with a larger security margin with the proposed market settlement. It is, however, important to note that the social welfare is compromised with the increased security margin.
Keywords: Elkraftteknik;Electric power engineering
Issue Date: 2008
Publisher: Chalmers tekniska högskola / Institutionen för energi och miljö
Chalmers University of Technology / Department of Energy and Environment
URI: https://hdl.handle.net/20.500.12380/174142
Collection:Examensarbeten för masterexamen // Master Theses

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