LMP dependence function of variable parameters of electric power network

Various FACTS devices in equivalent circuits of electric power network elements may be represented by series or parallel controlled reactances. The solution for competitive electricity market optimization depends on parameters of electric power network, and control of such parameters provides an opportunity to control prices for electricity. This research offers a function of locational marginal prices (LMP) dependence on power network parameters, which represents a set of fractional-polynomial functions. It may be used for different purposes: search for optimal arrangement of FACTS devices, maximization of market welfare function and easy calculation of FACTS devices installation efficiency. The offered approach is tested on TCSC (Thyristor Controlled Series Capacitor) devices.