Summary
This paper presents optimal coordination and management of on‐load tap changer (OLTC), distribution static compensator (D‐STATCOM), distribution generation (DG), and reconfiguration to maximize annual cost savings and improve voltage profile using hybrid optimization. An analytical approach is developed to find optimal setting of OLTC. Optimal reconfiguration of the network is derived using genetic algorithm. Optimal location of DG and D‐STATCOM is determined using gravitational search algorithm, and optimal ratings are obtained using interface with MATLAB and GAMS environment. Fourteen realistic case studies are investigated in this paper work. In the first scenario, regulating devices are disabled to monitor the voltage profile and energy loss of the test system. In the remaining cases, influence of OLTC, DG, D‐STATCOM, and reconfiguration is independently and simultaneously studied. In the last scenario, OLTC, DG, D‐STATCOM, and reconfiguration are enabled to maintain voltage security and minimize power losses. Simulation results are obtained for IEEE 69‐bus test system and compared with other existing methods available in the literature. The proposed technique is reliable and efficient to obtain global optimal solution. Simulation results clearly indicate that optimal coordination and management among OLTC, DG, D‐STATCOM, and reconfiguration is required to maximize annual cost savings and maintain voltage at each node as per statutory requirements. Moreover, the analysis has been carried out for time‐varying distribution system with realistic load model.