Reactive power market management considering voltage control area reserve and system security

This paper presents a new algorithm to optimize reactive power procurement through commercial transactions considering system voltage security. The proposed algorithm minimizes reactive power provision and transmission loss costs in addition to maximizing system voltage security margin through a multiobjective function. In order to maintain the voltage profile of power system during sever contingencies or due to load uncertainty, all voltage control areas (VCA) of the system are detected and then optimal reactive power reserve is provided for each VCA during the market settlement. A four-stage multiobjective mathematical programming method is proposed to settle the reactive power market. The proposed algorithm has been applied on IEEE-RTS test system. The simulation results show the effectiveness of the proposed algorithm for reactive power market management.

► The paper proposes a novel multiobjective algorithm for reactive power market clearing.
► Allocating adequate reactive power reserve for the network is an important object of the algorithm.
► The paper suggested determining all VCAs of the system and then allocating adequate reserve for each VCA.
► The algorithm classifies system operating condition into four different voltage security levels and tries to move it toward normal level.
► To clear the market with three mentioned objective functions, a four-stage multiobjective nonlinear programming is implemented.