Optimal Choice and Allocation of FACTS Devices for Security-Constrained Economic Dispatch

Abstract

Flexible AC transmission systems (FACTS) devices have provided new control facilities in power systems. Simultaneous optimization of type, location and parameters for FACTS devices is an important issue when a given number of FACTS devices are applied to the power system with the purpose of increasing system loadability. This paper presents the application of simulated annealing algorism (SA) to find optimal type, location and parameters of FACTS devices to achieve security-constrained economic dispatch (SCED). The overall cost function, which includes generation cost and installation cost of FACTS devices, should be minimized. The SCED constraints are generators, transmission lines and FACTS limits. Two types of FACTS devices are utilized in this study namely STATCOM as a shunt type and TCSC as a series type. In this study simulations were performed on IEEE 14-bus. Results of simulations are encouraging and could efficiently be employed for power system operations.

Keywords: Allocation, Security-constrained economic dispatch (SCED), FACTS and simulated annealing (SA).