Proposing New Methods for Management of Reactive Power Market

One of the issues that have received increased attention in the restructuring of the electrical industry is the awareness of importance of ancillary services and its competitiveprocurement. Reactive power and voltage control is one of the ancillary services which in many power systems is procured by market based mechanisms. The main subjects related with the reactive power management are: maintaining an adequate security level, transmitting correct economic signals and providing just and transparent results. Due to specific properties of reactive power, establishment of spot markets for providing this service is more complicated than those on other markets. Therefore may different objective functions for management of reactive power markets be needed. In this paper some methods for management of reactive power markets are proposed and are compared with each other. These objective functions are designated to resolve some problems of power systems such as congestion, unfavorable voltage profile andthe high concentration of market. These objectives may be useful for management of reactive power markets in some special situations like initial days of establishment ofthese markets. The IEEE 57-bus system is analyzed to illustrate the proposed market management methods.

Keywords:

Ancillary Services , Market Management , Market Power , Reactive Power , Voltage Control