This paper presents a novel approach to the (generation maintenance scheduling) GMS problem in electricity markets. The main contribution of this study is the modeling of a coordination procedure for an (independent system operator) ISO, based on a game-theoretic framework for the GMS problem. The GMS process of generation companies (Gencos) is designed as a non-cooperative dynamic game, and th...

In this paper, Genetic Algorithm is used to solve the profit based unit commitment for deregulated power system in order to achieve optimal generation schedule and maximum profit of GENCOS. Deregulation of power system means unbundling of vertically integrated power system into generation, transmission and distribution companies. This proposed algorithm or approach is tested on IEEE-30 bus syst...

[...] I salute the efforts and agreements being made (in favor of sustainable development) [...] But we must realize that the water crisis and the aggression to the environment is not the cause. The cause is the model of civilization that we have created. And the thing we have to reexamine is our way of life [...] Development cannot go against happiness. It has to work in favor of human happine...

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...

This is a project report from the Power Systems Engineering Research Center (PSERC). PSERC is a multi-university Center conducting research on challenges facing a restructuring electric power industry and educating the next generation of power engineers. More information about PSERC can be found at the Center's website: Notice Concerning Copyright Material PSERC members are given permission to ...

In deregulated electricity markets, generation companies (GENCO) try to maximize their economic benefits considering the demand, transmission network condition, and other participants’ behaviors. The increasing penetration of renewable sources such as wind power with intermittent nature poses several challenges participation GENCOs in market. Thus, this paper presents a stochastic bilevel optim...

This paper presents a framework to solve the strategic bidding problem of participants in an electricity market cleared by employing full AC Optimal Power Flow (ACOPF) formulation. Traditionally, independent system operators (ISOs) leveraged DC (DCOPF) formulation settle market. The main quest this work is find what would be challenges and opportunities if ISOs leverage ACOPF as market-clearing...

Strategic bidding in joint energy and spinning reserve markets is a challenging task from the viewpoint of generation companies (GenCos). In this paper, the interaction between energy and spinning reserve markets is modeled considering a joint probability density function for the prices of these markets. Considering pay-as-bid pricing mechanism, the bidding problem is formulated and solved as a...

Since the nineties, many electric utilities and power network companies have undergone and are still experiencing dynamic change in the ways of doing business, from a vertically integrated industry to an open market system. The operational planning activity of a generation company (GenCo) is no longer a cost-minimizing process, but seeks to maximize its net profit subject to physical constraint...