Investigation of the Impacts of Synchronous Generators’ Forced Outage Rates on Reactive Power Market

In this paper a stochastic reactive power market clearing is presented. In this market, the expected value of the total payment by the independent system operator is minimized by using particle swarm optimization algorithm. By using the developed stochastic reactive power market model, the impacts of synchronous generators’ forced outage rates on reactive power market’s cost has investigated. Numerical studies have been performed on the IEEE 24-bus Reliability Test System (RTS). The results evidenced that the lower the forced exit rate of the units, the lower the cost paid by the independent operator of the system to settle the reactive power market.