Consumer centric flexible reactive power pricing using scalable technologies

Abstract

The reactive power is the background power without which the active power cannot be transmitted in the power systems. In the modern power system, the reactive power pricing is very much essential in order to maintain the voltage in the transmission line. The modern power system is the grid that functions with smart innovative technological system that provides fiexibility, efficiency and availability for the users. The smart grid uses the Internet of Things technology to identify and provides the requirement of system reactive power for reactive power pricing. The pricing model for reactive power is performed with the aim of loss minimization and thereby meets the consumers in secure manner and provides profit to power producer. The optimal reactive power dispatch problem is solved using Self Balanced Differential Evolution which has multi variable characteristics and the results are compared using Differential Evolution. The computed optimal reactive power of the generator is priced using opportunity cost method. The generator reactive power cost is compared with and without capacitor bank in the 62 Bus Indian utility systems. In this paper, the analytics and opportunities of smart grid for reactive power service are discussed using 62 bus Indian Utility System.