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In this article, a Particle Swarm Optimization (PSO) based method has been suggested to find the optimal location and setting of Thyristor Controlled Series Compensator (TCSC) for simultaneously maximizing the Total Transfer Capability (TTC) and minimizing total real power losses of deregulated electricity markets consisting of bilateral and multilateral transactions.While solving multiobjective OPF, various inequality constraints have been handled by penalty function. The robustness of the proposed algorithm has been tested on IEEE 30 bus system. PSO gives accurate results which may be used for online TTC calculation at the energy management centre.

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