Application of SVC for voltage regulation in real-time power market

Power systems become more interconnected for economic reasons. As transmission systems are required to operate at higher power levels, the margin of voltage stability reduces. For these reasons, utilities are increasingly employing compensating device. Voltage control in real-time power market ensures safety of the power system as well as improves efficiency of power market. This paper proposes an effective and practical method for the choice and placement of suitable Static Var Compensator (SVC) in power market environment. At the same time, when SVC is connected to power system, fast voltage stability assessment in the power market (FVSA-PM) has been applied to evaluate in this paper. PowerWorld simulator and Matlab software have been chosen to build up the calculation program. The proposed approach has been implemented on 39-bus IEEE test system.