Calculating the Locational Marginal Price and Solving Optimal Power Flow Problem With Static VAR Compensator and Moth Flame Optimization

A production unit's efficiency and profitability can be evaluated using the locational marginal price (LMP), which considers both the capacity of transmission lines and the optimal power flow (OPF).If the cost of generators is decreased overall, electricity costs in the market can decline.Numerical and repetition-based approaches are more suited for solving power flow problems due to their nonlinear nature.To find the optimal power flow at a reasonable cost, this study employs a Moth Flame Optimization (MFO) to resolve the equations.Then, to make the MFO more efficient when used in tandem, to enhance its performance and to compute transmission line power.One method that has been employed to circumvent this problem in FACTS is the Static VAR Compensator (SVC).Finally, bus voltages, line losses, produced power, total generating costs, and generator profits would all be part of the final output of the proposed MFO algorithm.The proposed method improves upon previous attempts at fixing the OPF problem by testing it on the IEEE 57-bus network.