Economic Benefit Comparison between Series FACTS Device Installation and New Transmission Line Investment in the Deregulated Power System using Probabilistic Method

Economic benefit of installing a static synchronous series compensator (SSSC) has been evaluated and compared to that of adding a new transmission line for the modified IEEJ East standard model system. The equipment availability and load variations are included probabilistically, and the evaluation has been made in terms of the energy generation bid cost in the deregulated spot market and the investment cost For the model system, the evaluation has favored the installation of a SSSC compared with adding a new transmission line. SSSC applications to other systems can be evaluated similarly