Utilities participating in deregulated markets observe increasing uncertainty in load (i.e., demand for electric power) and prices for fuel and electricity on spot and contract markets. This study proposes a new formulation of the unit commitment problem of electric power generators in a restructured electricity market. Under these conditions, an electric power generation company will have the ...

This mathematical model allows calculation of Unit Commitment (hereinafter UC), providing for compliance with all technical limitations in the equipment state and electricity regime parameters to ensure the minimization of the total cost of electric power generation, as determined on the basis of notifications wholesale market participants on the composition and parameters of the generating equ...

A formulation for the commitment of electric power generators under a deregulated electricity market is proposed. The problem is expressed as a stochastic optimization problem in which the expected profits are maximized while meeting demand and standard operating constraints. First, we show that when an electric power producer has the option of trading electricity at market prices, an optimal u...

Motivated by the enormous growth of keyword advertising, this paper explores the design of performance-based unitprice contract auctions, in which bidders bid their unit prices and the winner is chosen based on both their bids and performance levels. The previous literature on unit-price contract auctions usually considers a static case where bidders’ performance levels are fixed. This paper st...

the issue of unit commitment is one of the most important economic plans in power system. in modern and traditional power systems, in addition to being economical of the planning, the issue of security in unit operation is also of great importance. hence power system operation confronts units’ participation and input considering network security constrains. the issue of units’ participation is ...