Tradeoff Analysis Based on Various Indicators for The Electricity Trading

As renewable energy integration grows, reactive power appears valuable and worth evaluating from both safety and economic aspects in power system. Thus, a mathematical definition of multi-objective reactive power optimization (MORPO) for power systems is given considering the security constraints of power system operation. Among them, the optimized objective function is based on the indicators such as voltage deviations (Vd), reactive power cost (Rcost), and voltage stability index (Lindex). In addition, an Improved Sine Cosine Algorithm (ISCA) is proposed so as to improve the drawbacks of the standard Sine Cosine Algorithm (SCA) which can easily lead to a local optimum, premature convergence, and poor populationvariety. Furthermore, the ISCA is used to minimize the Rcost while minimizing the Vd or Lindex respectively, which results in the tradeoff analysis in Chinese electricity market. Finally, the simulation is performed on the standard IEEE30 node test system, which compares ISCA with SCA and particle swarm optimization (PSO). The results of the simulation show the applicability of this reactive power optimization model and the effectiveness of ISCA in solving the MORPO problem. On the other side, tradeoff seems to be unavoidable whether in case 1 or case 2, if less reactive power costs are preferred.