| dc.description.abstract | This thesis paper aims to explore various market mechanisms and pricing strategies for reactive power, assess operational regulations, and conduct a comparative analysis of these elements across different market setups. The unpredictable nature of renewable producers and price-responsive loads, the expensive computational effort, and the possible violation of the privacy of generators and load aggregators are all factors that may provide substantial issues for distribution network operators when it comes to administering the centralized energy market. In the presence of a significant amount of renewable energy sources, particularly hydropower, a model such as this one may provide the necessary adaptability to manage the variability and decentralization of power sources by including dispersed producing units into the grid.
By delving into these aspects, the paper seeks to identify optimal practices that can be adopted to improve reactive power management and pricing, providing actionable insights for policymakers and industry stakeholders. | |
