A literature survey of Optimal Power Flow problems in the electricity market context

For decades researchers have developed various models and algorithms to look for the Optimal Power Flow (OPF) in different applications. Still research is ongoing to find OPF problems for the present day power system challenges such as a liberalized market or a large penetration of renewable energy source. Traditionally, classical mathematical optimization methods have been used to effectively solve conventional OPF problems. Due to emergence of a deregulated electricity market and consideration of dynamic system properties, however, the traditional concepts and practices of power systems are over-ruled by an economic market management. So the requirements for OPF have become more complex than it was. The purpose of this survey is to collect information from the previous research literatures and to classify different modeling and solving approach for OPF.

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