In this paper, optimal location of flexible alternating current transmission system (FACTS) devices in the power system is considered, with considering various objectives, as well as reducing the fuel costs, reducing active losses of the transmission lines, reducing voltage deviations of the buses and increasing the system loadability. The devices used in this study include unified power flow controller (UPFC), static synchronous series compensator (SSSC) and hybrid flow controller (HFC), which have been selected for optimization due to their high efficiency. The study of how these elements are allocated and their optimal capacity determination in achieving multiple goals is accomplished by implementation of an optimal power flow method in the IEEE 14-bus test system. Simulations have been carried out with application of multi-objective optimization classical methods, including the goal programming and the epsilon constraint methods.

Keywords: Flexible alternating current transmission system (FACTS) devices, Optimal location, Multi objective optimization, Optimal power flow