A Real Time Price Signal for FACTS Devices to Reduce Transmission Congestion

The challenge of operating the electric power system while not being able to directly control power flows on the transmission grid is exacerbated as industry restructuring substantially alters the use of the aging transmission system. This paper investigates the use of a proposed closed-loop price signal that integrates FACTS devices into the real time electricity market with the objective of decreasing congestion as needed in real time to facilitate scheduled power flows and improve the transfer capability of the high voltage grid. Dynamic models of the power system are developed, and simulation results demonstrate FACTS devices responding to nodal price and transmission constraint information. These results are intended to be useful to system operators as well as to policy makers and regulators interested in developing methods for transmission system operation that minimize congestion in order to allow scheduled power transactions to flow

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