Improvement of Social Welfare and Profit by Optimal Allocation of TCSC with Wind Power Generator in Double Auction Competitive Power Market

Wind power generation and in general renewable energy has demonstrated some positive effects as an embedded generation. Also some adverse effects has been seen, mainly attributable to the fluctuating real power injection and to the varying absorption of reactive power which leads to voltage deviations throughout the whole network that could affect system stability and power quality. This paper presents an approach in which wind power generators (WPG) are connected in the network and the thyristor controlled series compensator (TCSC) is optimally placed to improve the system performance by considerable improvement in social welfare (SW) along with minimization of generation cost & investment cost of TCSC device. The Locational Marginal Pricing (LMP) has been also improved by proper placement of TCSC by presented approach. The effectiveness of the presented approach for location of TCSC has been tested and analyzed on modified IEEE 14-bus and modified IEEE 118-bus systems.