The optimal reactive power dispatch (ORPD) problem plays a key role in daily power system operations. This paper presents a novel multi-period approach for the ORPD that takes into account three operative goals. These consist of minimizing total voltage deviations from set point values of pilot nodes and maneuvers on transformers taps and reactive power compensators. The ORPD is formulated in GAMS (General Algebraic Modeling System) software as a mixed integer nonlinear programming problem, comprising both continuous and discrete control variables, and is solved using the BONMIN solver. The most outstanding benefit of the proposed ORPD model is the fact that it allows optimal reactive power control throughout a multi-period horizon, guaranteeing compliance with the programmed active power dispatch. Additionally, the minimization of maneuvers on reactors and capacitor banks contributes to preserving the useful life of these devices. Furthermore, the selection of pilot nodes for voltage control reduces the computational burden and allows the algorithm to provide fast solutions. The results of the IEEE 118 bus test system show the applicability and effectiveness of the proposed approach.