Sensitivity index based load optimization and impact of FACTS devices in pool and hybrid electricity market model

Abstract

Congestion management process is very crucial and important for better planning and successful operation of electrical power system. Due to increase in load, power flow for the system must be calculated to ensure system stability and security. In this paper Congestion management is implemented by minimization and optimization of loads. Use of FACTS devices is also included for optimal power flow for congestion management. Nodal price based sensitivity index is also implemented for economic load dispatch using optimal power flow method. IEEE 24 RTS is simulated on PSAT for performance analysis and evaluation.