Voltage security considerations in an open power market

The deregulation of the electric power industry in Europe is the major issue nowadays. The new environment raises questions concerning all sectors of the electric power industry. Nevertheless, the transmission system is the key point in market development since it puts constraints to the market operation due to technical requirements. Especially, in systems having weak connections among areas, congestion problems arise due to line overloading or to voltage security requirements. This paper focuses on topics concerning voltage security in a deregulated power market and related market issues. Results by the application of the proposed methodology in the Greek Electric Power System (EPS) are presented.