Active-reactive power economic dispatch of very short term in competitive electric markets

A model is presented for very short term operation scheduling (few-hours periods) in 15- or 30-minute intervals, with the additional consideration of voltage and reactive power control. This model tries to satisfy the present power demands of competitive electric power markets by considering the economic aspects of operation costs/price as well as the preventive security to guarantee higher system stability under voltage disturbances. The model is based on active/reactive de-coupled calculation. For active power, linear programming was selected as a mathematical tool to solve the problem, whereas for reactive power, quadratic programming applied to a multi-objective function was used. The work includes some application examples and conclusions