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Summary In this paper, 2 new reactive power market structures are presented. Active power flow by itself causes active and reactive losses. Considering such losses in the reactive power market without paying any costs is the main purpose of this paper. Therefore, this study attempts to improve the reactive power market and promote fair competition in reactive power generation by improving the market structure. The total payment by independent system operator will be reduced in these new structures. By extension, in this work, the cost payment function of synchronous generators is modified. To simulate and describe the proposed method in the implementation of the reactive power market, the Cigre 32‐bus test system is applied.

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