A scheduling method of hybrid power market taking into account reactive power

Electric power deregulation is a restructuring of rules and in the reconstructed power industry, we can expect a form of power supply from both bilateral contract and spot market. This paper presents a daily operation scheduling method taking into account reactive power in the pool and bilateral transactions mixed power market, where the bilateral contract power level for a daily operation is given as a premise for scheduling. Using the proposed method, we discuss how the bilateral contract power level influences on the pool operation and economic efficiency of the system operation.