Optimal generation scheduling strategy for profit maximization of genco in deregulated power system
نویسندگان
چکیده
A GA based optimal generation scheduling strategy is developed to solve the profit maximization problem for GENCO in the day ahead market. It is a multi objective formulation that includes the forecasted demand, forecasted market clearing price, startup cost and profit functions, besides the generating limits and demand constraints. The proposed GA approach is investigated on three unit and ten unit test systems and numerical results are tabulated. This results shows that this method effectively maximize the GENCO’s profit and compared with that of a traditional methods.
منابع مشابه
Optimal Scheduling of Coordinated Wind-Pumped Storage-Thermal System Considering Environmental Emission Based on GA Based Heuristic Optimization Algorithm
The integration of renewable wind and pumped storage with thermal power generation allows for dispatch of wind energy by generation companies (GENCOs) interested in participation in energy and ancillary services markets. However, to realize the maximum economic profit, optimal coordination and accounting for reduction in cost for environmental emission is necessary. The goal of this study is to...
متن کاملاستراتژی قیمتدهی امنیتمقید نیروگاهها بر مبنای تجزیهوتحلیل ریسک در بازار انحصار چند جانبه
In this paper, Generation Companies (GENCOs) bidding in wholesale electricity market is explained with considering the effect of transmission network and uncertainty about bidding strategy adopted by rival GENCOs. Due to oligopolistic restructured electricity market, economic model of supply function equilibrium is used for modeling GENCOs competing. In this competition, each GENCO is in search...
متن کاملOptimal Bidding Strategies of GENCOs in Day-Ahead Energy and Spinning Reserve Markets Based on Hybrid GA-Heuristic Optimization Algorithm
In an electricity market, every generation company (GENCO) attempts to maximize profit according to other participants bidding behaviors and power systems operating conditions. The goal of this study is to examine the optimal bidding strategy problem for GENCOs in energy and spinning reserve markets based on a hybrid GA-heuristic optimization algorithm. The heuristic optimization algorithm used...
متن کاملRefined Genetic Algorithm for Short Term Generation Scheduling Problem in Regulated and Deregulated Power System
In the new restructured electricity power industry, a Generation Company (GENCO) with thermo-electric amenities faces the optimal problem of how to attain a maximum profit by considering the price uncertainties. In deregulated power markets, the maximization of profit is different from the minimization of cost because generation companies no longer have the obligation to serve the whole demand....
متن کاملGeneration scheduling in a competitive environment
Electric power restructuring offers a major change to the vertically integrated monopoly. The change manifests the main part of engineers’ efforts to reshape the three components of today’s vertically integrated monopoly: generation, distribution and transmission. In a restructured environment, the main tasks of these three components will remain the same as before, however, to comply with ...
متن کامل