A Unified Framework for Reactive Power Management in Deregulated Electricity Markets

This paper discusses various complex issues associated with reactive power management and pricing in the context of the new operating paradigms in deregulated power systems, proposing some policy solutions. Thus, a unified framework for reactive power management that is appropriate for a competitive market, and that ensures a secure and reliable operation of the associated power system is proposed. The framework is generic in nature and can be adopted for any electricity market structure