Optimal transmission dispatch with optimizing facts device in open power market

As a consequence of the deregulation of electricity supply industry, increasing wheeling transactions require high transfer capability. FACTS devices can be an alternative to change the line flows, resulting in an increased loadability, low system loss, improved stability of the network, reduced cost of production and fulfilled contractual transactions in the network. This paper suggests the optimal location of FACTS devices based on the real power flow performance index then optimal power dispatch problem is solved to get the optimal parameter of FACTS devices. The paper also discusses its impact on the spot price of the system. The effectiveness of the purposed method is demonstrated on IEEE-14 bus system.