OPF INCORPORATING LOAD MODELS MAXIMIZING NET REVENUE

Studies of effects of load modeling in OPF studies using minimum cost and minimum loss objectives reveal that a main disadvantage of cost mi nimization is the reduction of the objective via a reduction in the po wer demand. This inevitably results in lowering the total revenue and in most cases, reducing net revenue as well. An alternative approach f or incorporating load models in security-constrained OPF (SCOPF) studi es apparently avoids reducing the total power demand for the intact sy stem, but reduces the voltages. A study of the behavior of conventiona l OPF solutions in the presence of loads not controlled by ULTC's show s that this results in a reducing the total power demand for the intac t system. In this paps, we propose an objective that avoids the tenden cy to lower the total power demand, total revenue and net revenue, for OPF neglecting contingencies (normal OPF), as well as for security-co nstrained OPF. The minimum cost objective is modified by subtracting t he total power demand from the total fuel cost. This is equivalent to maximizing the net revenue.