“…The dynamic devices are more expensive power electronics based fastacting devices such as static VAR compensators (SVC), Static Synchronous Compensator (STATCOM), Unified Power Flow Controller (UPFCs) that exert continuous feedback control action and have better controllability and repeatability of operation. While MSCs are able to strengthen a power system against long term voltage instability issues [1], transient voltage dip and slow voltage recovery issues (influenced by electric load dynamics) is most effectively addressed by fast responding dynamic VAR sources [10,11,12]. While, past methods allocate static and dynamic VAR sources sequentially for one contingency at a time, the key to solving transmission system problems in the most cost-effective way will be to coordinate reactive power requirements simultaneously under many contingencies for both static and dynamic problems.…”