A possible framework for market-based voltage reactive power control

This paper concerns technical and economic role of voltage and reactive power control necessary for implementing energy market requests. Two aspects of voltage support provision in the restructuring industry critically determine definition of "standards" for voltage support (1) It is conceptually impossible to impose standards for voltage support starting from an industry with nonuniform standards itself; (2) Therefore, a system provider should only define relevant standards for system reliability; optimal voltage profile is determined on a market for reactive power and voltage control proposed in this paper.