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This paper presents an optimal allocation method for flexible ac transmission system (FACTS) devices for market-based power systems considering congestion relief and voltage stability. The purpose of the FACTS devices installation is to provide benefit for all entities accomplished by both minimizing annual device investment cost and maximizing annual benefit defined as difference between expected...
This paper proposes an approach to optimally allocate FACTS devices based on Expected Security Cost Optimal Power Flow (ESCOPF) under deregulated power system. The aims of the approach are both to minimize device investment cost and to maximize benefit defined as difference between Expected Security Cost (ESC) with and without FACTS installation. The expected cost includes operating cost not only...
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