Do you mean e.g reconfigure network feeds and say switching pf correction capacitors to minimize power loss with varying load centers as Lc's vary with time?
It is possible but not a economical solution . It requires installation of Dynamic Reactive power compensator which is based upon IGBT and based upon compensation , firing angle is decided . It is now becoming a practise for large load like Metro system , etc .
Reconfiguration allows load balancing and reduces the power loss. However, number of switching may be limited in a day. Therefore, my question was to know the criterion we should follow in online reconfiguration since loads are frequently changes.