Enhancing Electricity Trading Volume in a Decentralized Three-Phase Local Electricity Market using Flexible Step Voltage Regulator

This paper centers around enhancement of electricity trading volume within a decentralized, three-phase local electricity market (LEM) encompassing both single-phase and three-phase loads. The extent of trading volume is constrained by limitations inherent in line flow, voltage magnitude, and voltage unbalance parameters. To address these limitations, a Flexible Step Voltage Regulator (FSVR) is employed, and its parameters are automatically adjusted to enhance said limits. An optimization problem is formulated to get the parameters of FSVR to ensure network constraints are always satisfied. Through a series of simulation studies conducted on the IEEE 13-bus network, the utility of FSVR in improving the trading volume is quantified and presented.