ABSTRACT
Due to deregulation in the electricity market, the whole power-economic market management is drastically changing. With the coming of power exchange, power trading is possible in the real-time market. The power industry is changing from a conventional regulated setup to the deregulated environment. The transmission congestion is one of the technical problems that mainly appears in restructured power systems. In a transmission line, congestion is caused due to overloading of the line and is a significant challenge in a deregulated power system. With the increasing demand for overload and violation of line, constraint leads to the congestion, thereby threatening the security of the system. Flexible AC Transmission Systems (FACTS) devices are used to avoid this congestion. This chapter consists of a detailed electricity market analysis of a deregulated power system during the base cases, contingency cases, and with FACTS devices. The Thyristor Controlled Switched Capacitor (TCSC) devices are optimally planned in the system with a multi-weighting approach using optimization techniques to relieve the congestion and maintain other performances under contingency. The optimization technique is used to find the optimal location of TCSC. The proposed methodology based on the evaluation of voltage deviation, reliability, and losses as the objective functions are useful for the optimal placement of TCSC. The techno-economical effect is discussed within the deregulated power market in this work. Finally, this chapter contains a detailed discussion of the Indian electricity market analysis and power trading, considering its present scenario and future trends.
AU: Please check whether the edit made in the sentence “With the increasing demand … of the system” convey the intended meaning.
