Optimizing spinning reserve with regard to FACTS device effects on transmission network

This paper introduces a new algorithm for the parameter setting of FACTS devices such as TCSC in transmission networks while optimizing amount and location of spinning reserve, simultaneously. Spinning reserve is provided by GENCOs and Interruptible loads. Risk Based Unit Commitment has been solved by cost/benefit analysis according to a day-ahead pool market condition with simultaneous clearing energy and reserve. The expected cost of energy not supplied is considered as a probabilistic index for balancing between benefit derived from spinning reserve against an estimate of the cost of its provision. Single credible contingencies of generating units are applied for evaluation of generation (HLI) and generation/transmission (HLII) systems reliability. Finally, simulation study and sensitivity analysis to evaluate the effectiveness of new algorithm are performed on a four-bus typical test system by changing in one of important reliability factors such as value of lost load on different load buses of transmission network.