ABSTRACT
Due to socio-economic reasons, the existing vertically integrated system is getting converted to deregulated systems. But the basic problems like catering extensively high demand and managing voltage stability and system efficiency remain the same along with economical considerations. This chapter deals with a thorough and meticulous survey of existing and projected technologies in the field of power engineering, to ensure safe and reliable operation of the system. The bright prospect of high-voltage direct current (HVDC), flexible AC transmission system (FACTS) and optimization techniques has been a part of the quest made in this chapter. The most recent developments like the smart grid have also been illuminated to extend this pursuit to future power networks.
