Optimal choice and allocation of FACTS devices in deregulated electricity market using genetic algorithms

This paper deals with the optimal choice and allocation of FACTS devices in multi-machine power systems using genetic algorithm. The objective is to achieve the power system economic generation allocation and dispatch in deregulated electricity market. Using the proposed method, the locations of the FACTS devices, their types and ratings are optimized simultaneously. Different kinds of FACTS devices are simulated in this study: UPFC, TCSC, TCPST, and SVC. Furthermore, their investment costs are also considered. Simulation results validate the capability of this new approach in minimizing the overall system cost function, which includes the investment costs of the FACTS devices and the bid offers of the market participants. The proposed algorithm is an effective and practical method for the choice and allocation of suitable FACTS devices in deregulated electricity market environment.