The study about penalties for violation of voltage under pool model in power market

Two models in Power Pool about the penalties for violating the desired voltage maintained by the generators were put forwarded based on the theory of spot price using optimal power flow. One is for the system that the reactive power services are paid based on real-time pricing of reactive power while the other one is for the system that the reactive power services are paid based on the capital costs. Also, the proposed approaches were tested on an IEEE 30-bus system. The results show that the corresponding penalties quantities can be gotten according to the variation of reactive power demand in power market and the models are effective.