Security/cost-based optimal allocation of multi-type FACTS devices using multi-objective particle swarm optimization

Flexible alternating current transmission system (FACTS) devices can regulate the active and reactive power as well as voltage-magnitude. Placement of these devices in suitable locations can lead to the control of line power flow, bus voltages and short circuit currents at desired levels and, as a result, improvement of power system security margins. This paper presents an optimal allocation algorithm for FACTS devices based on a novel m-objective particle swarm optimization method considering both power system costs and security. The proposed algorithm has successfully been applied to an IEEE 30-bus power system and the results are presented and discussed.