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For decades, research on reactive power management as a snapshot problem employing a single objective function has been widely performed. However, this cannot satisfy the ISO's aim of optimization on several points simultaneously for a successive period. Therefore, in this paper, a multi-objective optimal reactive power flow (ORPF) formulation with respect to the time-domain is proposed. The proposed formulation minimizes both losses and payment for the provision of the reactive power service in the framework of the UK daily balancing market. Prior to the optimization procedure, the related control parameters can be ordered with the aid of a load classification method, in order to simplify the control actions. During the optimization, compromise programming is applied to achieve the multi-objective. A case study on a 60-bus test system is presented to illustrate the application of the proposed modeling framework.