A novel multi-zone reactive power market settlement model: A pareto-optimization approach

Amit Saraswat, Ashish Saini and Ajay Kumar Saxena

Energy, 2013, vol. 51, issue C, 85-100

Abstract: This paper presents a Pareto-optimization based zonal day-ahead reactive power market settlement model named as multi-zone DA-RPMS model. Three competing objective functions such as Total Payment Function (TPF) for reactive power support services from generators/synchronous condensers, Total Real Transmission Loss (TRTL) and Voltage Stability Enhancement Index (VSEI) are optimized simultaneously by satisfying various power system operating constraints while settling the day-ahead reactive power market. The proposed multi-zone DA-RPMS model is tested and compared with single-zone DA-RPMS model on standard IEEE 24 bus reliability test system. A Hybrid Fuzzy Multi-Objective Evolutionary Algorithm (HFMOEA) approach is applied and compared with NSGA-II for solving these DA-RPMS models in competitive electricity market environment. Further, both the single-zone and multi-zone DA-RPMS models are also analyzed on the basis of market power owned by any generator/any generating company. The simulation results obtained confirm the superiority of HFMOEA in finding the better Pareto-optimal fronts in order to take better day-ahead reactive power market settlement decisions.

Keywords: Day-ahead competitive electricity market; Hybrid fuzzy evolutionary algorithm; Market power; Multi-objective optimization; Pareto-optimal front; Zonal reactive power market settlement (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:51:y:2013:i:c:p:85-100

DOI: 10.1016/j.energy.2012.12.009

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