Abstract

In this study, a linearized and convergence-guaranteed optimal power flow (OPF) model with reactive power (Q ) and voltage magnitude (v) is proposed. Based on a linearized network model, a fully linearly-constrained OPF model is formulated with constraints on Q and v and limits on the apparent branch flow. Compared with the commonly used DC OPF method, the proposed method narrows the deviation from the AC OPF solution without requiring any additional information of the power grid. The locational marginal price (LMP) of the proposed method is closer to the AC OPF solution than the DC OPF method. The marginal price of the reactive power (Q-LMP) is provided, which offers the opportunity to price the reactive power. Case studies on several IEEE and Polish benchmark systems show that the proposed OPF method substantially enhances the performance of the prevalent DC OPF method. In addition, it is shown that if the accuracy of the linearized network model needs to be further improved, such as that during the iterative quasi-optimization process that reconstitutes the AC feasibility, a solution that is notably close to the optimum of the AC OPF model can be obtained by taking only one more iteration.