Is the unity power factor realizable at the load terminals?

Contrary to the widespread understanding, this paper shows by means of mathematics and numerics that a perfect power factor correction cannot be made at the load terminals only. To achieve a perfect power factor correction, the supply commitment is required as well. In the absence of such commitment, the power factor cannot reach unity unless we refine the very definition of power factor. But the refined power factor is then slightly higher than the conventional one. The refined expression for power factor is a function of the load parameters as well as the line characteristics. For an ideal power system (with no line losses), this coincides with the conventional formula.