FACTS technology and opportunities

The author describes how, since its conception and strategic pursuit through EPRI, FACTS technology has come a long way. It is seen now by most electric utilities in the US, Canada and many other countries, an essential for the future competitive business environment. EPRI having gone through the ups and downs in defining, refining, articulating, technical and financial management of projects in a catalytic manner, and the introduction of FACTS into professional societies, it is not an exaggeration to say that there is no turning back. High speed control allows the power system operators to use the transmission system in an advantageous, steady state mode, which may normally be unacceptable from the point of view of stability/security considerations in the context of mechanical control system, and yet it can respond with high speed to deal with the stability/security threatening conditions