Forecasting the Open Pool Energy Market with Facts Devices and Alternative Energy Sources under Contingency Conditions

FACTS devices are used to solve the challenging problem of power system control and stability in the developing world. By strategically placing FACTS devices in the heavily loaded power system, transmission loss can be minimised, reactive power flow can be controlled, voltage profiles can be improved across the network, and operating costs can be lowered. The voltage profile and reactive power generation at the generation end have both been enhanced by RES devices, in addition to FACTS devices. The deregulation of the power industry has resulted in extensive upgrades to the power grid. The current market situation, in which private parties have the legal right to supply electricity to customers, is crucial to grasp. The available transfer capacity (ATC) and perunit cost in an open pool market scenario are predicted after analysing the impact of static VAR compensators (SVC) and renewable energy sources (RES). A variety of loading and single-line outage contingency scenarios are used to assess the proposed method. Mi-Power software can determine the state of this 30-bus system