Market Power Assessment Based on Placement of FACTS Devices

Deregulation has offered improved quality of power supply due to entry of a number of competitive private entities in Electrical Generation Sector. But there is also a possibility of collusion amongst certain members thereby driving the cost of electrical energy above the competitive level for a considerable time. This depends upon the amount of market power possessed by these members. This paper assesses the market power possessed by different entities and relative changes after placement of FACTS devices in the power network. TCSC and STATCOM (FACTS Devices) are placed on their optimum location and market power is being analyzed before and after their placement in the network. The analysis is being done on IEEE-14 bus network at MATLAB platform.

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