A stochastic game framework for reactive power reserve optimization and voltage profile improvement

Voltage control and reactive power management are two critically important criteria for ensuring quality power delivery and system stability in the grid. As the two issues are coupled, they have been generally tackled simultaneously. In this paper, we utilize the concept of stochastic game modeling from game theory to develop a novel algorithm to solve the multi-objective optimization (MOO) problem of reactive power reserve maximization and voltage profile improvement. The MOO is first reduced to a single objective optimization (SOO) problem using the weighted-sum (or scalarization method). The solution to the SOO problem is then viewed as the equilibrium solution of a stochastic game. The algorithm that implements our proposed solution concept is validated in MATLAB/MATPOWER using the IEEE-39 (New England) bus system model, and very encouraging results are reported.