Keywords: deregulation, optimal power flow, OPF, locational marginal pricing, LMP, congestion, thyristor controlled series compensator, TCSC, genetic algorithms, GAs, electricity markets
A new method for locating TCSC for congestion management in deregulated electricity markets
This paper presents the effects of thyristor controlled series compensator (TCSC) on congestion of transmission lines and locational marginal price (LMP) in deregulated power systems. The placement of TCSC is to reduce congestion in deregulated electricity markets based on the calculation of congestion rent. The main objective of TCSC placement is either to minimise congestion rent or to maximise social welfare. Genetic algorithm-based optimal power flow (OPF) algorithm is used to maximise social welfare for finding the best location and rating of TCSC and the results obtained are compared with conventional LMP method. A sample five bus test system is used to show the influence of TCSC on congestion and LMP in the electricity market and for finding best location for TCSC placement.